Bitmain Unveils Release Date of Next-Gen Antminer S17 Devices

Chinese crypto miner-manufacturer Bitmain has announced the release date of its next-generation Antminer S17 series.

As per today’s announcement, the much-anticipated update of Bitmain’s crypto miner will be up for sale on April 9 globally.

These devices will be used to mine SHA256 algorithm-based digital coins including Bitcoin and Bitcoin Cash.

The 2nd generation of the 7nm ASIC-chips used in these miners is very efficient, and the company is claiming that it will save 28.6 percent of energy consumption compared to its predecessors.

Though the next generation devices are compact and compatible with the previous S15 series in size, it will have a higher Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term. However, the company did not reveal any numbers.

Commenting on the updated version of the devices, Yangxin, product manager of these devices, said: “Electricity bills are very high for Bitcoin mining right now so the improved energy efficiency means a significant drop in costs and, thus, increase in profits. Secondly, the new miner offers a steep improvement in the hash rate in terms of space and power consumption. This will be especially meaningful for mining farms when you consider the investment needed with set up.”

Under the Antminer S17 series, there will be three models - Antminer S17 Pro, Antminer S17, and Antminer T17.

“From a technical point of view, there is no end to the development of technology. However, in the short run, the driving force behind the development of next-gen miners beyond 7nm chips is slowing down due to physical limitations,” Yangxin added.

“Considering the rapid pace of development in this area in the past few years, the industry would soon have to find what the next generation would be. For the near future, 7nm would remain the most preferred in terms of performance and economics.”

Gaining Profit from Mining

Bitmain is also planning to deploy 200,000 crypto miners from its inventory in southwestern China for mining activities, taking advantage of the cheap electricity cost in the region, media reports claimed.

Recently, the company also introduced Antminer Z11 targeted to mine Equihash-based Cryptocurrencies Cryptocurrencies By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw By using cryptography, virtual currencies, known as cryptocurrencies, are nearly counterfeit-proof digital currencies that are built on blockchain technology. Comprised of decentralized networks, blockchain technology is not overseen by a central authority.Therefore, cryptocurrencies function in a decentralized nature which theoretically makes them immune to government interference. The term, cryptocurrency derives from the origin of the encryption techniques that are employed to secure the netw Read this Term.

Meanwhile, the mining giants application for a public listing to the Hong Kong Stock Exchange lapsed as it did not receive a further hearing date.