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Bitmain Confirms Release of First Ethereum ASIC Miners

Bitmain Confirms Release of First Ethereum ASIC Miners

Bitmain finally announces its highly anticipated Ethereum ASIC miner, the Antminer E3.

According to Bitmain official website, the ETC miner will be shipped from mid-July at $8000 per unit.

The Antminer E3 was highly hyped even before its official announcement and therefore attracted a lot of buyers.

This ETC ASIC miner can somewhat reduce the pressure the GPU market is going through at the moment. Around this time last year, Ethereum made its way to the spotlight and continued its upward journey. As the cryptocurrency was GPU-mineable, it caused the prices of graphics cards to rise as well, causing a wave in the market. However, currently, when cryptocurrency prices are not doing so good, GPU mining has also slowed down a little. The prices may have affected the GPU mining profits but not to a large extent as the graphics cards are still used by large-scale operators. It seems like now its Antminer E3’s turn to turn the market.

There was a time when Bitcoin could be mined with a PC, however now it is mined with specialized ASICs. Ethereum, on the other hand, is nothing like Bitcoin because it is mined with GPUs and is ASIC-resistant as it relies on fast memory and traditional ASICs don’t work that way. Now, this makes Bitmain’s ETC ASIC miner very special as it obviously has some changes engineered in it that could overcome the memory challenge.

Although Bitmain didn’t reveal much about the Antminer E3, the Chinese-based company still gave out some basic details like it would offer 180MH/s mining power and would consume 800w of power.

Last month, Wall Street analyst Christopher Rolland reduced the price targets for AMD and Nvidia shares citing the impending competition from Bitmain ETC ASIC miner. Note that AMD and Nvidia are popular GPU manufactures whose products are used worldwide.

“While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development.”

The Antminer E3 could actually change the game for Ethereum mining and obviously graphics cards. However, it still remains to be seen how the Ethereum ecosystem will react to the ASIC miner.

Also Read: Bitmain Has Developed an Ethereum ASIC Miner

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