Bitmain to Sell New Bitcoin Miners this Week

Crypto hardware manufacturing giant Bitmain will release two new Antminer models that target the Bitcoin mining sector. 

On Tuesday, Bitmain revealed that its recently announced 7nm ASIC processor will power the new Antminer S15 and T15 machines, which will go on sale on November 8.

Bitmain announced on Twitter that the new miners “possess industry-leading hash rates designed to mine with the SHA256 algorithm.” 

Bitmain CEO and co-founder Jihan Wu first announced the 7nm chip in late September, stating that it would be more powerful and energy efficient than previous models.

While the full specs for the chip are yet to be released, Wu said in the original announcement that it would incorporate “more than a billion transistors” and “achieve a ratio of energy consumption to mining capacity that its as low as 42J/TH.”

The details on the new Antminers are sparse as well, with a holding page on Bitmain’s website containing no details as of press time.

The company’s announcement came amid its effort to raise funds through an initial public offering. It officially filed for an IPO in September, although pitch decks indicate that some investors may have viewed false information on its funding status.

Bitmain’s new processor will compete with several other Bitcoin-focused ASICs, including Bitfury’s new 14nm chip which was announced the day before. The Bitfury Clarke is the firm’s latest product, which also claims to boost power efficiency, particularly for the SHA256 algorithm as utilized by cryptos such as Bitcoin.

Bitfury has just closed an $80 million funding round, which was participated by Mike Novogratz’s Galaxy Digital.