Bitmain is one of the early bitcoin mining companies founded in 2013 by Jihan Wu and Micree Zhan. They have been manufacturing Antminers for several years. At the time Bitmain was established, there were many competing companies. Some provided legit miners, but others turned out to be little more than snake oil. In the early days of ASIC mining in 2014, someone spent $46k on bitcoin mining hardware.
Bitmain has always delivered on its promises where miners are concerned. By 2018 it had become the most prominent designer in the world of ASIC (Application Specific Integrated Circuit) chips. They operate mining pools Antpool and BTC.com.
Some history about Bitmain
Bitmain, based on financial accounts, was profitable in 2018, boasting profits of $742.7 million in the first half. They first produced the Antminer S1 at 180 GH’s and has continued to innovate, offering the best hash rates per watt of power consumed at present. Bitmain also manufactures Litecoin / Scrypt miners.
Bitmain catered to both home miners and larger mining farms. Their initial miner offerings were such that a miner could use many of them at home. Bitmain has continued to innovate, increasing the hash rate possible in their ASIC chips. The increased hash rate on the Bitcoin blockchain has resulted in a more secure network than would have been possible without this innovation.
Their current S19J Pro boasts 29.5 J/TH. However, they released the Antminer S1 in November 2013, which uses the same amount of power could only do 147 GH/s for 29.5 J of energy. The improvement is just over 6.5 times more mining power for the same amount of electricity consumed. In 8 years, that is a significant improvement and commitment to development in this sphere.
Bitmain’s history of always honoring contracts and providing hardware within agreed timescales means many large mining operations trust Bitmain to provide their hardware.
Bitmain had used $450 million from its initial investors in 2013 well. It is now a company making more than that in long-term profits, helped by Bitcoin’s blockchain technology developments. This is something Bitmain has directly contributed to.
The Bitmain Antminer
Bitmain Antminers are the best choice of mining rig if you wish to begin a mining operation yourself. Their soon-to-be-released current SHA256 choice, which is for Bitcoin, is the S19j Pro. This consumes 3250 watts of power. A home miner on a 230-volt circuit could probably operate just one of these at home. The Antminers have shifted from home mining to industrial level mining. However, Bitmain has in the past catered for home mining with miners like the Antminer R4.
However, they are the best miners available if you wish to begin a mining operation, both in company trust and reliability.
The Antminer 19 series use new-generation chips developed by Bitmain themselves. The power efficiency of these chips can be as good as 23 J/TH. By improving circuit architecture, Bitmain helped enhance power efficiency. In addition, Bitmain is starting to use the 5nm manufacturing process, which will further enhance the power efficiency of Antminer’s.
Antminers are industry-leading in their hash rates, measured in terahashes per second (TH/s) for mining hardware. The current S19 Pro features a hash rate of 110 TH/s currently.
The efficiency of the Antminers is helped by the quality power supply they offer. These are some of the most efficient power supplies on the market with minimal wasted energy. These improve earnings for miners and ensure good long-term operation with good circuit design.
The advanced firmware of Bitmain mining hardware ensures fast miner start-up and efficiency when mining. The Antminers can be ordered direct from Bitmain on Bitmain.com, along with their APW13 power supplies.
Trust in Bitmain
Bitmain has been a trusted supplier of mining hardware and mining services in the Bitcoin sphere since 2013 and has shown its integrity in how it operates. Many big players have noticed, like those shown above, and purchase Bitmain’s machines. Gryphon is a minor player in the industry but is no slouch, starting its investment at 7200 miners. Home miners, of which there are a few, also use Antminer hardware.
Medium size operations such as TeraWulf, and giant players such as Marathon also put their trust in Bitmain to supply their hardware.
Bitmain thus trusts to supply quality hardware from small single-miner home operations to giant operations sporting 100’000s of mining rigs. Moreover, their history has proven they will deliver miners to their customers and service those miners in different regions.
Conclusion
Many prominent players worldwide are beginning to invest and continue to invest in Bitcoin mining operations, from China to North America. From small home miners worldwide to new players such as Gryphon, who have made sizeable investments to begin their growth. Large operations are continuing to expand, keeping themselves in the top 10 in hashrate. In addition, some players, such as TeraWulf, are committing to low-carbon solutions, helping with the long-term aim of reducing the pollution of Earth. It will help with alleviating worries of Bitcoin mining harming the environment.
Bitmain remains as of 2021 the best mining hardware supplier, both in terms of quality, innovation, warranty service, and hardware life of up to five years. They are also the largest ASIC manufacturer in the world. As a result, many more players are likely to bring miners online, further increasing Bitcoin adoption, securing the network, and aiding with the decentralization of Bitcoin.