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Bitmain Reveals Sales Details of Next Gen Bitcoin Miners

Bitmain reveals sales details of next gen bitcoin miners

Bitmain Reveals Sales Details of Next Gen Bitcoin Miners

Bitmain reveals sales details of next gen bitcoin miners

Beijing based bitcoin mining hardware manufacturing giant Bitmain has announced the sales details for the company’s latest range of crypto-specific chips. According to the company, the Antminer 17 series will be capable of mining more than 50 trillion hashes per second.

Sales will take place in two batches over the next two days. Shipping is expected to occur later in the month on a first bought, first served basis.

Could New bitcoin Miners Give Bitmain the Edge in a Competitive Market?

One of the planet’s largest and best-known manufacturers of bitcoin mining hardware has just revealed the specifications and sales dates of its next generation crypto mining chips. The Antminer 17 series will be available in three different models. Two of these are available from today or tomorrow (depending on where in the world you live) whilst the third will be sold at a currently undisclosed date. All the new pieces of hardware feature the second generation BM1397 mining chips, which is the the firm’s most efficient to date.

The Antminer S17 Pro comes in two versions – the 53 TH/s and the 50TH/s. Both bitcoin miners have three different mining modes than allows the customer to optimise their unit for either energy efficiency, flat out power, or a happy medium. Turbo mode runs at 45 Joules per Terahash, the normal one at 39.5 J/TH, and the power-saving mode at 36 J/TH.

Likewise, the Antminer S17 comes in two versions. Oddly, the Pro version is not the more powerful of the newly announced products since the standard S17s are listed by Bitmain as being capable of 56 and 53 TH/s respectively. However, the standard does only feature two modes, with the more energy preserving unit running at 42 J/TH and the normal mode running at 45 J/TH.

Sales will take place in two batches several hours apart. For those crypto miners in North, Central, and South America, the first will be released today at 23:00 PDT, with the second being available tomorrow from 09:00 PDT. Customers living in Europe, the Middle East, and Africa will first be offered the Antminer 17 series tomorrow at 09:00 MSK and then at 19:00 MSK on the same day. Finally, those wanting a new Antminer in Asia will be able to pick one up tomorrow from 14:00 CST and on April 10 at 00:00 CST. The units will ship between April 20 and April 30. They will do so on a first buy, first ship basis.

With such a high hash rate, the new Antminers could seriously put pressure back on those manufacturers that have stepped up recently to challenge the Beijing-based giant. The likes of Microbt Mining and Asicminer both claim to offer machines with higher hash rates. For this reason, much of the industry will be eyeing the price of the new Antminer bitcoin miners when sales begin. For now, prices remain a mystery but if they are priced at less than the competition, the new units could prove very popular indeed.

Bitmain seems to have had a pretty rough start to 2019. Reports from the beginning of the year state that the firm was forced to layoff around half its staff and shutdown its Tel Aviv offices. The crypto mining firm had planned to go public on the Hong Kong stock exchange, a process, which for now, seems to have stalled.

Related Reading: Regulator Rules Cryptocurrency Mining Contracts Can be Securities

Featured Image from Shutterstock.

Published at Mon, 08 Apr 2019 23:00:52 +0000

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Palestine May Launch Its Own Cryptocurrency as Sovereign Legal Tender

Palestine Plans Cryptocurrency as Sovereign Legal Tender

Palestinian officials are planning for the region of Palestine to receive its own digital currency within the next five years. The motivation for this stems from concerns about potential Israeli interference, Azzam Shawwa, Governor of the Palestinian Monetary Authority (PMA), told the news agency Reuters.

Palestinians have no sovereign currency of their own and use a combination of different currencies, including the euro, the dollar, the Jordanian dinar and the Israeli shekel, to conduct their daily financial transactions.

Due to the lack of a sovereign currency, Palestinian officials have little control over money supply and inflation. This is why the Palestinian Monetary Authority wants to introduce a bitcoin-like digital currency as the territory’s new legal tender, which will be called “the Palestinian Pound,” according to Shawwa.

It is the Palestinian Monetary Authority’s goal to become a fully-fledged and internationally recognized central bank for an independent Palestine. However, it is still unclear how a digital sovereign currency for Palestinians would sit with the 1994 Paris Protocol agreement. The protocol agreement gives the Palestinian Monetary Authority the functions of a central bank; however, it has not granted the institutions the right to issue its own currency. The Paris protocol recommends the use of the shekel in the region and, thereby, effectively provides Israel with a veto over the establishment of a Palestinian currency.

A sovereign digital currency, though, would make sense for Palestine. Not only would it allow the PMA to have more control over the country’s money supply and inflation, but it would also circumvent the practical challenges of delivering hard currency into the country as the PMA has no money-printing facilities.

“If we print currency, to get it into the country you would always need clearance from the Israelis and that could be an obstacle. So that is why we don’t want to go into it,” Shawwa explained to Reuters.  

While the digital Palestinian pound is planned to be issued within the next five years, this will be no easy task for Palestinian authorities, given that the Palestinian Monetary Authority has been trying for over a decade to become an internationally recognized central bank.

Another option for the Palestinian monetary situation would be to keep the current status quo of the four above-mentioned currencies in use or to officially recognize one of the these currencies as the territory’s legal tender. However, a digital sovereign currency would be the preferred choice for Palestine, according to Shawwa.

The post Palestine May Launch Its Own Cryptocurrency as Sovereign Legal Tender appeared first on Bitcoin Magazine.

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