A new ASIC miner for Ethereum coming soon

en.cryptonomist.ch April 29 2021 12:05, UTC
Reading time: ~2 m

The well-known Chinese manufacturer Bitmain has announced the release of a new ASIC miner for Ethereum by the end of the year. 

This is the Antminer E9, which was presented in a short video as an Ethereum-specific miner. 

The curious thing is that in the course of 2021, or at the latest in early 2022, Ethereum is supposedly scheduled to switch from Proof-of-Work (PoW) to Proof-of-Stake (PoS), which should make ASICs for Ethereum obsolete

However, despite this, Bitmain still decided to release a new Ethereum miner, probably figuring that ETH mining will still go on for some time

Bitmain’s new Ethereum miner

The new Antminer E9 will do the work of 32 graphics cards (GPUs), i.e. the processors currently used to mine ETH, with a power of up to 3 GH/s. 

Ethereum uses a different hashing algorithm than Bitcoin (SHA-256), so the new E9 was created specifically to be able to mine ETH. 

The GPU manufacturer Nvidia has also recently decided to market graphics cards specifically for mining, in response to the shortage of graphics cards due to the mining boom. 

In the past year, for example, the profitability of ETH mining has increased tenfold due to the significant increase in the value of Ether. This has also led to an increase in the number of miners and machines used, so that the hashrate has almost quadrupled

Bitmain didn’t reveal many more details about the E9, except that the power consumption will be up to 2,556W, with an efficiency of 0.85 J/M. One of the most important pieces of information is therefore missing, namely the price, which according to some estimates could exceed $20,000.

Among other things, there is also speculation that Ethereum miners will not leave the old PoW-based blockchain, even when the new PoS-based one is released, because they expect ETH mining to continue for at least another year after the launch of Ethereum 2.0.

It is worth noting that the old PoW-based blockchain will in fact be incorporated into the new PoS-based one, without being destroyed, closed or deleted. It will be up to users to choose which one to use.


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