Bitmain announces global release date of new Antminer S17; claims it has improved energy efficiency

Bitmain, the Chinese mining giant, recently announced that its Antminer S17 will be globally released on 9 April 2019. Earlier this month, the mining giant had revealed the new model of its Antminer 17 series machines to mine Equihash-powered Proof-of-Work coins. Antminer, on its official Twitter handle, posted,

 

In the blog post, the Chinese chipmaker stated that the new mining equipment in the 17 series would include Antminer S17 Pro, Antminer S17, and Antminer T17.

Bitmain’s much-hyped mining devices were reportedly sold out within 20 minutes of the pre-selling phase on its website. The Bitcoin mining firm claimed that the latest version offered a hashing power of 135 KSol/s, which was three times more powerful than the previous Antminer Z9, released in May last year. This will reduce mining costs and subsequently help save nearly 60% in electricity costs, when compared to its predecessor.

Yangxin, Product Manager of Bitmain’s latest Antminer series, had this to say,

“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 hashrate in terms of space and power consumption.”

Bitmain reportedly incurred a net loss of $395 million in the second quarter of 2018. The firm further reported major losses following overproduction of ASIC miners.

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