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The second-largest cryptocurrency network is moving away from Proof-of-Work (PoW) technology. Still, Bitmain, the world's top maker of bitcoin (BTC) miners, will begin selling a new Ethereum rig model on its website on Wednesday. https://twitter.com/Antminer_main/status/1544593569016852481 The Chinese rig manufacturer tweeted the news on Tuesday with the phrase "The Time Has Come." Ether mining often uses graphics processing units (GPU), which are also used in other types of computing, in contrast to bitcoin mining, which is primarily carried out with Application-Specific Integrated Circuits (ASIC) or chips that are specifically designed for the task. In 2021, the rising demand for ether mining significantly raised GPU prices to the point where technology giant Nvidia (NVDA) introduced mining-specific GPUs. https://twitter.com/Antminer_main/status/1544305433242136576
Ethereum Transitions to Proof-of-Stake Mining
However, GPU costs have dramatically dropped as Ethereum transitions to Proof-of-Stake (PoS) mining. Over the previous few months, the changeover, often referred to as the Merge, has continuously been postponed. The mining machine, known as the new Antminer E9, was unveiled more than a year ago. The energy-efficient variant goes on sale on Wednesday at 9 a.m. ET (13:00 UTC) uses 8 joules/terahash (J/TH) rather than 8.5 J/TH, a slight improvement over the model disclosed last year. Bitmain said that the model is equivalent to 25 Nvidia GeForce RTX 3080 graphics cards as opposed to the 32 RTX 3080 it had previously promised. The Antminer E3, a different Ethereum mining device that Bitmain released in 2018, is no longer available for purchase on the company's website.