Mining Company Declares About Ethereum ASIC Miner

Mining Company Declares About Ethereum ASIC Miner

New mining machines will be specifically designed for ETH

Chen Min, the former employee at Canaan Creative, is planning to deal withEthereum. Her company, Linzhi, will build cryptocurrency mining machines developed specifically for this cryptocurrency.

Ethereum ASIC equipment is a market innovation. The first one, Antminer E3s, was shipped out last year and cost about 800 USD per one device. Despite trading restrictions, the shipment was sold out within hours.

According to analyst Christopher Rolland, Bitmain has already created an ASIC for mining ETH and preparing the supply chain for shipments this year. However, the Ethereum has made several problems for Bitmain by trying to decrease the use of ASICs, which may obstacle fair competition in the mining niche. Bitmainalso faced disapproval for the release of its latest chip, the Antminer X3. Before selling, Bitmain pointed out that the risks of mining could be influenced by swings in exchange rates of the cryptocurrency or to alterations in the algorithm.

At the Ethereum Classic Summit, Chen Min claimed that new Ethereum mining deviceswould use much less power in comparison toBitmain’s devices. Therefore,Linzhi’s product could produce about 17 USD more than what Bitmain miners. The miner will be released in 2019.

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