Mining Efficiency is Continuously Increasing Before Bitcoin Halving
- Bitmain, a maker of circuit chips for Bitcoin mining, introduced its next generation Antminer S21 and S21 Hydro ASIC at the World Digital Mining Summit.
- The Antminer S21 introduced by Bitmain has a hashrate of 200 TH/s and an efficiency of 17.5 J/T, while the S21 Hydro hash speed is 335 TH/s and an efficiency of 16 J/T.
- Currently, miners are placing double the emphasis on efficiency and renewable energy for Bitcoin mining. All this is happening when Bitcoin Halving is going to happen in 2024.
Bitmain Introduces two ASICs for Bitcoin Miners
Bitmain, a circuit chip maker for Bitcoin mining, introduced its next-generation Antminer S21 and S21 Hydro ASIC at the World Digital Mining Summit held on September 22 in Hong Kong. Along with introducing the next-generation ASIC, Bitmain also gave information about their performance, which has been awaited in the industry for a long time. Giving information, Bitmain said that Antminer S21 has a hash rate of 200 TH/s and efficiency of 17.5 J/T, while S21 Hydro Hash Speed is 335 TH/s and efficiency of 16 J/T, which is quite remarkable because Till now most of the Bitcoin ASICS were working above 20 J/T. Miners are currently focusing on ASICS efficiency, with many miners looking to incorporate renewable energy as a core component of their operations. All this is being done when a big event like Bitcoin Halving is going to happen in 2024.
The Block Reward will be Halved after Bitcoin Halving
Miners are planning to incorporate efficiency and renewable energy into Bitcoin mining at a time when the Bitcoin Halving event is scheduled to occur in the year 2024. Let us tell you that after Bitcoin Halving, the Bitcoin block reward received by Bitcoin miners for new Bitcoin units is going to be halved. According to the information, after the Bitcoin Halving of 2024, this block reward will be 3.125 Bitcoin per block. Which was 50 Bitcoin per block in its beginning. After three Bitcoin Halving incidents so far, it kept getting halved every time. After the first halving, it was 25 Bitcoin per block, after the second it became 12.5 Bitcoin per block and after the third, it became 6.25 Bitcoin per block. In such a situation, it becomes very important for the miners to reduce the cost incurred during mining and earn more profit, for which incorporating efficiency and renewable energy in Bitcoin mining is a better option.
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