One of Bitmain’s biggest rivals, Ebang Communication, has announced three new crypto mining rigs, which reportedly feature hashrate speeds of up to 44 trillion hashes per second (TH/s).
The China-based ASIC mining chip maker revealed its E11 series miners at the World Digital Mining Summit in Georgia. On its website, Ebang stated that sales for Ebit Miner E11, E11+ and E11++ will be “forthcoming.”
Like its E10 product line, Ebang’s E11 series features a 10nm chip. According to a product flyer posted by Blockstream CSO Samson Mow on Twitter, the E11++ offers efficiencies of 45 J/TH at 44 TH/s “for the entire miner at the wall, not the chip.” E11+ is capable of 37 TH/s, while E11 can reach 30 TH/s.
#Ebang has just announced their next gen miners, the E11 series with 10nm chips up to efficiencies of 45J/TH. That’s for the entire miner at the wall, not the chip. Ebang has maxed out gains for the 10nm process node, and it far exceeds Bitmain’s 7nm stats. #WDMS #miningconf pic.twitter.com/jzXx3AYZWI
— Samson Mow (@Excellion) September 22, 2018
Eban’s E11 miners are expected to come out ahead of its competition, such as the Whatsminer M10, the Bitfury Clarke, and Bitmain’s yet-to-be-released 7nm miner. Announced just last week, Whatsminer M10 is a 16nm ASIC miner from Pangolin, which is specifically designed for the SHA256 algorithm and can mine Bitcoin BCH, as well as BTC, at 33 TH/s. In comparison, Bitfury’s 14nm Clarke fully customized ASIC promises up to 120 gigahashes per second (GH/s) hashrate.
Bitmain claimed it has a 7nm chip capable of up to 41 J/TH power efficiency—which falls in comparison to Pangolin’s E11 miner series.
Red flags over the competitiveness of Bitmain’s chips have been raised recently. According to analysts from Sanford C Bernstein & Co, the Beijing-based ASIC device manufacturer has begun to lose the competitive edge that allowed it to control as much of 85% of the market for crypto mining chips.
Ebang Communication, along with another Bitmain rival Canaan Creative, have announced plans to hold initial public offerings (IPO) on the Hong Kong Stock Exchange, targeting to raise as much as $1 billion. Bitmain is also supposedly preparing for a September IPO, but recent reports indicate the company is suffering from inventory losses, a lack of new manufacturing and the dwindling crypto mining market, which has already caused Nvidia to pull back on its production and financial forecasts.
Squire taps Samsung to manufacture ASIC chips
Meanwhile, another player is gearing up to join the ASIC crypto miner market.
On Tuesday, Canada’s Squire Mining Ltd. announced that it has chosen Samsung Electronics as its foundry partner to manufacture its next-generation ASIC chips in South Korea. Gaonchips is designing the chip for mining of Bitcoin Cash (BCH) as well as alt coins such as those using SegWit technology.
The FPGA (field programmable gate array) prototype for Squire’s first ASIC chip is expected to be completed by Sept. 30, 2018.
In a statement, Squire said, “Our front-end development team of engineers and programmers is currently working with Gaonchips to develop the company’s initial ASIC chip to mine Bitcoin Cash, [BTC], and other associated cryptocurrencies using a wafer process technology that, once confirmed and accepted as meeting certain prescribed specifications and criteria, will form the basis of an initial mass production test run of the ASIC chip by Samsung Electronics.”
Squire’s joint venture with Hong Kong-based tech firm Future Farm Developments Ltd., Arasystems Technology Corp., which will manage the development, manufacturing and assembly of Squire’s ASIC chip-powered mining rigs.
The pilot production test run of Squire’s initial ASIC chip and mining systems for Bitcoin BCH is expected to be completed by the end of fourth quarter of 2018. Squire Mining will then deliver the ASIC chips and mining rigs to associates of Bitcoin BCH’s largest mining company, CoinGeek.com, which has been granted the exclusive right to market, promote, solicit, sell and distribute Squire’s new ASIC chips and mining rigs to Bitcoin BCH and other alt coin miners throughout the world.
Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.
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