Coinshares: 2019 Bitcoin mining rigs produce far more hashrate than last year models
Coinshares emphasized that the newly introduced Bitcoin mining rigs have “as much as 5x hashrate per unit than their generation predecessors”, according to the recent two-year mining report. Furthermore, the news suggests that the semiconductor industry is going beyond 7nm, 5nm and 3nm processes and is expected to design 2nm and 1.4nm chips by 2029 from the International Electron Devices Meeting (IEDM) that held on December 7-11.
“As much as 5x the hashrate per unit”
At the end of 2019, Coinshares Research released its biennial mining report containing research and observational information about the bitcoin mining industry. Since Coinshare’s final report, published in June, BTC’s hashrate has increased by 50 exahash per second (EH / s) and the company believes that a fair share of its power comes from China.
With the crypto market price seemingly plummeting, one would think that BTC miners will slow down. However, this happened this year and despite the chaotic market, the BTC hashrate has grown terribly. On December 12, Coinshares Research revealed some new statistics about the state of bitcoin mining today and a lot has changed since the last report.
Research into Bitcoin mining trends notes that the increased hashrate is due to a combination of stronger BTC prices since a low of $ 3,000 and next-generation bitcoin miners. Coinshares mentioned that the next generation mining rigs produced by Microbt, Bitmain, Canaan and Ebang produce “as much as 5x the hashrate per unit as their generational predecessors.” Between November 2018 and June In 2019, Coinshares Research witnessed capital transfer and bankruptcy in the mining industry, but the past two quarters have seen expansion.
The hashrate increase in 2019 has been exponential. For example, in 2017-2018, many mining rigs moved away from the 16nm semiconductor standard to lower 12nm, 10nm and 7nm processes.
Semiconductor manufacturers have a roadmap for 2nm and 1.4nm processes
The recent IEDM event of the semiconductor industry shows that ASIC miners will likely continue to improve as the year continues. One of the interesting revelations here at IEEE’s International Electronics Conference (IEDM) is around new and upcoming process node technologies. Almost all sessions so far this week have included 7nm, 5nm, and 3nm processes. What we didn’t expect to see revealed was an extended roadmap of upcoming Intel manufacturing processes.
Currently, ASIC mining rigs manufactured by manufacturers such as Bitmain, Canaan, Ebang, and Microbt mainly use 12nm, 10nm, and 7nm chips. This means that 5nm and 3nm processes are consolidated over the next two years; mining devices will also greatly improve. It’s hard to see how fast mining rigs packaged with 2nm and 1.4nm chips will work, but they can be significantly faster than current machines.
Moreover, the majority of mining companies are using the chip processes of the Taiwan Semiconductor Manufacturing Company (TSMC). The Taiwanese semiconductor casting plant plans to speed up processes like Intel and potentially TSMC could be ahead of the game in that regard. No matter which semiconductor company makes better chips faster, improvements in the chip industry, in general, will undoubtedly push bitcoin mining rigs to be built in the next two decades.
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