Bitmain, the world’s biggest manufacturer and exporter of ASICs miners, has sold out its first round of the new and long awaited S19s Antminer within a day of opening up domestic sales.
With production and exporting coming to a halt due to coronavirus, Bitmain is now back at work, but the backlog and desire for the new more powerful S19s has unsurprisingly outstripped demand on day one.
However, in a “coincidental” statement, Beijing-based Bitmain said the lucky ones who managed to get hold of the new S19s would receive their shipments the day before the Bitcoin halving is expected.
The Antminer S19s
The first version of the Antminer S19 will have a hashrate of 95 terahashes per second (TH/s) and an energy efficiency of 4.5±5% joules per terahash (J/TH) and costs $2,180.
The second version of the S19: The Antminer S19 Pro is even more powerful and energy efficient. With a hash rate of 110 TH/s and an energy efficiency of 29.5±% 5 J/TH will cost miners $2,920.
With coronavirus shutting down China for a few weeks, production was bound to be behind, and with the Bitcoin halving just weeks away, there’s an obvious scramble for the new more powerful Antminers.
But the delivery date Bitmain has stated is too coincidental for the mining community to not smell a rat. The first batches of miners will arrive the day before the halving.
Bitmain released the news in a tweet, which was quickly shot down by the mining community, and many of the comments insinuated Bitmain chose the date so that it would have less competition to mine with its next-gen mining rigs.
Social Blade CEO, Jason Urgo tweeted his sarcastic response to Bitmain’s announcement:
“Shipping May 11thish. Gee I wonder why you picked that date lol. I thought you guys said you didn't use them yourself first before shipping them? Or is it just to make sure the ones you do have for you get the most out before you ship these.”
This led pseudonymous tweeter, dua to respond: “They don't use it. They just stress test it for a ‘while’ for Quality assurance.”
And the price of the new rigs also led many people to simply recommend buying Bitcoin instead of the new mining rig. At today’s prices it’s expected to take almost three years to pay the costs with any income from mining BTC.
It’s a difficult time for all, and China is way behind in production and shipments, and many would agree that a delay was inevitable.
However, the concerning thing about the announcement is the coincidence. It stinks and brings more shame to the much-blighted Bitmain, which is seemingly forever embroiled in shameful acts.
Miners will eventually get their hands on the new S19s, but Bitmain will have a lead and have plenty of time to mine using the most powerful miners. And I believe it will eventually lead to an exodus of buyers, who will turn to Bitmain’s competitors as they catch up.
Author: Tommy Limpitlaw