Bitmain, the famous manufacturer of specialized mining equipment for Bitcoin, is facing a more than perilous situation. Between internal and industrial problems, the company is playing its future with the release of the Antminer T19 model.
A complex situation for Bitmain
After having dominated the mining equipment scene for a long time, the Chinese company finds itself in a thorny situation. The conflict between Micree Zhan Khetuan and Wu Jihan, the two founders of the company , does not seem to be subsiding. And for good reason, the latter simply wanted to dismiss Zhan from his duties in October 2019, via a simple email.
In addition to the legal battles, a new pervasive competitor is beginning to gain considerable market share. MicroBT's WhatsMiner M20 sold 600,000 copies in 2019. For information, Bitmain went from 75% to 65% of the sector's market share between 2018 and 2019.
Following the grandiose success of the S7 and S9 models, Bitmain's professionalism was called into question after the 17 series posted a failure rate of 20% to 30% . To top it off, the company angered the miners by announcing the shipment of the new S19 model only one day before the halving date.
The 19 series to save the day?
Bitmain is used to releasing its products in series. The S series , synonymous with a star product, with a better hashrate and more effective, and the T series which is considered more affordable.
After the flash sale of its S19 series on March 23, 2020 , which was sold out in less than 24 hours, it's the Antminer T19's turn to see the light of day. This new model displays a performance of 84 TH / s ( terahashes per second), and an energy efficiency of 37.5 J / TH (Joules per terahash ). It will be sold for 1,750 dollars for the general public.
In terms of profitability, the Antminer T19 will generate an income of $ 3.14 per day , while the S19 will generate $ 3.93 of daily profit according to F2pool's calculations (for an energy cost of $ 0.05 per kiloWatt). The sale of T19 models will be limited to two units per buyer.
Will the company still be at the origin of a new industrial incident? The new models, expected to be delivered in early July, will clearly be the focus of the mining industry's attention. No more errors are allowed!