Bitmain Releases Ethash ASIC Miners
04 April 2018 - 12:56PM
ADVFN Crypto NewsWire
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Chinese tech giant Bitmain announced that they are releasing an
Ethash ASIC miner, according to a tweet April 3.
In the tweet, Bitmain says that the Antminer E3 is the
“world's most powerful and efficient EtHash ASIC miner.” The units
will retail for $800 each and according to the tweet, are not
available in China, nor can they be shipped to Hong Kong, Macau, or
Taiwan. Orders are limited to one per person. Bitmain will only
accept Bitcoin Cash (BCH) and US dollars for payment in this first
batch of units.
This release of new mining hardware from Bitmain confirms
rumors circulating in the crypto
community that Bitmain would soon develop an Ethash ASIC miner.
Ethash is the Proof-of-Work (PoW) hashing
algorithm used by Ethereum (ETH) and a variety of other
altcoins.
As Cointelegraph reported yesterday, some in the
Ethereum community suggested the possibility of a hard fork in the
ETH protocol to invalidate ETH ASICs. Ethereum founder Vitalik
Buterin suggests the protocol is already resistant to mining
centralization in the Ethereum White Paper:
“First, Ethereum contracts can include any kind of
computation, so an Ethereum ASIC would essentially be an ASIC for
general computation - ie. a better CPU… [The algorithm] allows
anyone to "poison the well", by introducing a large number of
contracts into the Blockchain specifically designed to stymie certain
ASICs.”
Bitmain
surpassed the US GPU
manufacturer Nvidia in terms of overall profits in 2017,
earning an estimated $3-4 bln and taking 70-80 percent of the
market for Bitcoin (BTC) miners and ASICs.
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