Folks at Wall Street might be developing a few jitters With this launch from Bitmain, the globe's leading crypto mining hardware behemoth, a technological marvel is poised to hit the market. This move sends ripples through the industry, promising to challenge crypto giants AMD and Nvidia as Bitmain rolls out its newly engineered EtHash ASIC mining device. Ethereum mining platform. As this fresh breed of ASIC miners emerges, Wall Street is abuzz with predictions that Bitmain might overshadow tech titans AMD and Nvidia.
The New Antminer E3 from Bitmain
In a tweet Announced by Bitmain on April 3, 2018, news broke of the release of the Antminer E3. Touted as the epitome of ASIC mining hardware for EtHash, this unit promises to bring unprecedented speed and cost-efficiency to Ethereum mining, surpassing traditional AMD and Nvidia GPU mining setups. Bitmain revealed plans to start shipping the units by summer, pricing them at $800 each.
AntMiner E3, Image from Bitmain
This revelation followed weeks of buzzing speculation that Bitmain was crafting such a device. With this confirmation, Wall Street's anxieties regarding AMD and Nvidia were realized. Once, CPU and GPU defined bitcoin mining's past, but now, ASICs dominate, with Bitmain controlling a hefty slice of the Bitcoin network's hashing power. Many anticipate Ethereum might witness a similar trend unfolding.
From the perspective of Bernstein's analysts, Bitmain appeared to have achieved remarkable gains in 2017. as much profit as Nvidia Bernstein analysts noted that a substantial part of Bitmain's income hinges on the sale of these crypto mining units. Earlier in March, Susquehanna forecasts for AMD and Nvidia were adjusted, with price targets slashed amid impending competition from Bitmain's Ethereum-focused devices. Susquehanna analysts highlighted Ethereum rig sales accounting for a fifth of AMD's earnings and a tenth of Nvidia's.
Potential Effect on Ethereum
The ramifications of Bitmain entering the Ethereum mining arena will likely ripple beyond AMD and Nvidia. Ethereum The Ethereum network confronts a potential paradigm shift. One of its foundational goals is to resist ASIC dominance, fearing it could lead to network centralization and monopolistic control. When whispers of Bitmain's plans first surfaced, they caused quite a stir on various blockchain-centric social media platforms. uproar The Ethereum development community has even been urged to take action to thwart Bitmain's EtHash miners from becoming operational on the network. Suggestions for a hard fork or other major protocol alterations are being discussed to safeguard against ASIC encroachment. Notable Ethereum developer Vlad Zamfir weighed in with his opinion on the matter, presenting
a poll online. Out of 6903 votes, 57 opted ‘Yes’ to modify Ethereum’s blockchain to neutralize ASICs. twitter poll Priyeshu Garg spends his days as a software engineer at a high-flying unicorn; when not engaged in challenging programming, he delves into the world of blockchain technology and cryptocurrency trading.
