Bitmain’s upcoming ASIC miner sparks frenzy

Home » News » Industry News

TL;DR Breakdown

Cryptocurrency mining rig manufacturer Bitmain has announced its upcoming release of a specialized machine designed for mining the digital currency Monero (XMR). The newly unveiled mining rig, named the Antminer X5, touts an impressive hashrate of 212 kilohash per second (KH/s). Bitmain claims that this rig is the first of its kind, marking it as … Read more

Cryptocurrency mining rig manufacturer Bitmain has announced its upcoming release of a specialized machine designed for mining the digital currency Monero (XMR). The newly unveiled mining rig, named the Antminer X5, touts an impressive hashrate of 212 kilohash per second (KH/s). Bitmain claims that this rig is the first of its kind, marking it as a “professional XMR miner.”

Bitmain has revealed that the sales for the Antminer X5 will commence on September 4. While the exact price of the rig remains undisclosed, Bitmain has involved its social media followers in a speculative game. Followers are encouraged to estimate the price of the Antminer X5, with the incentive of receiving Bitmain coupons valued at $1,000 or $500 for estimates within 5% and 10% of the actual price, respectively.

Although the announcement doesn’t provide an explicit cost for the Antminer X5, it does offer insights into the rig’s specifications. With a hashrate of 212 KH/s, the Antminer X5 consumes 1,350 watts of power and boasts an efficiency rating of 6.37 joules per kilohash. The rig is slated to go on sale on September 4, with shipping scheduled for September 10. Notably, Monero’s current total network hashrate is approximately 2.06 gigahash per second (GH/s), equivalent to 2.06 million KH/s.

The unveiling of the Antminer X5 has ignited discussions within the Monero community. Monero, known for its emphasis on privacy, has consistently opposed application-specific integrated circuits (ASICs). The cryptocurrency has resorted to multiple hard forks to counter ASIC development. This stance has prompted debates within the community regarding the potential impact of the new XMR ASICs.

The Rabid Mining YouTube channel highlighted the impending arrival of XMR ASICs, which sparked discussions on platforms like Reddit. On the r/monero subreddit, the video and related conversations have garnered significant attention. Some Reddit users speculate that these ASICs may have existed since December 2021, leading to playful references to the concept of “hard fork go brrrrrrrr” as a solution.

While optimism prevails regarding the community’s ability to counter ASIC development through hard forks, skepticism also exists. Some users emphasize the complexity of designing mining algorithms, referencing the example of Randomx, which was implemented through a hard fork in December 2019 to resist ASICs and enhance mining accessibility.

It’s worth noting that achieving complete ASIC resistance is a challenge, as manufacturers relentlessly innovate and create new models. Various cryptocurrency projects have struggled with the goal of ASIC resistance, with some ultimately accepting the presence of ASICs in their networks.

Bitmain’s announcement of the Antminer X5, a Monero mining rig with impressive specifications, has stirred conversations within the Monero community. As debates on ASIC resistance continue, the community grapples with the potential impact of these specialized machines and explores avenues to maintain the principles of decentralization and accessibility in the face of evolving technology.

Adebayo loves to keep tab of exciting projects in the blockchain space. He is a seasoned writer who has written tons of articles about cryptocurrencies and blockchain.