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Two of the largest manufacturers of bitcoin mining equipment are in a neck race to launch top-of-the-line machines ahead of the bitcoin (BTC) halving event in under three months.
On Thursday, Beijing-based mining giant Bitmain launched its latest AntMiner S19 and S19 Pro models, which boast computing power of up to 110 terahash per second (TH / s) and an energy cost of 29.5 watts per terahash. (W / T).
Following the firm’s specifications, the two models would currently be the most profitable bitcoin mining devices if available, closely followed by the WhatsMiner M30S of Shenzhen-based rival Bitmain MicroBT, according to an f2pool miner’s profitability index.
The launch comes in the wake of a heated battle between Bitmain and MicroBT, which has gained a significant share of the mining equipment business after selling around 600,000 units of its M20 series in 2019, ousting Bitmain’s long-standing market dominance.
MicroBT, which launched its flagship M30 models in December, has begun taking pre-orders for the latest and most powerful product line since last week, with sample unit deliveries starting next month.
According to leading MicroBT distributor Pangolin Miner, the M30S – priced at $ 2,430 each – has a computing power of 86 TH / s with an energy cost of 38 W / T and uses 8-nanometer chips provided by Samsung. The company said some devices will be shipping March through May, but large pre-orders will have to wait until June.
On the other hand, pricing and pre-order / delivery dates for Bitmain’s S19 models have not yet been announced. Adding to the uncertainty is whether Bitmain will be able to provide full-scale manufacturing, as the latest models adopt 7nm chips that are supplied in limited supplies from its supplier, Taiwan Semiconductor Manufacturing Company.
It also remains to be seen how the industry will react to the release of top-notch but more expensive mining equipment, as the price of bitcoin has retreated from its recent high of above $ 10,000.
Currently, Bitmain’s old model, the AntMiner S9, is still one of the most used miners, generating a daily gross margin of around 30 percent at the current bitcoin price, based on the f2pool index.
Additionally, the coronavirus outbreak in China has affected the country’s manufacturing and logistics operations, causing delays for those looking to expand or upgrade existing mining facilities.
In fact, data from mining pool BTC.com shows that bitcoin’s mining difficulty – a measure of how difficult it is to compete for mining rewards – has stood still for a month and is currently around the same level as seen on January 28. .
But with the bitcoin halving event approaching May, a planned change that will reduce the network’s mining rewards from 12.5 BTC per block to 6.25, older models like the S9 will become unprofitable unless that the price of bitcoin does not increase significantly. Therefore, miners may need to upgrade or exit the sector.
