Mining Rig Makers Race to Create Subsequent-Gen Ethereum Miner Earlier than Staking-Solely Kicks In
The 2.0 transition of the Ethereum network has made the protocol one of the largest stakeout networks in the world. Today, 1,683,905 ethers worth $ 1 billion are tied to the contract. According to reports from China, ten Chinese mining equipment manufacturers reportedly have two years to build a next-generation aether mining drill rig.
The Ethereum 2.0 project has developed into one of the world’s largest proof-of-stake networks (PoS). Although people can participate, miners still have two years to take advantage of ASIC mining via Proof-of-Work (PoW).
According to etherscan.io statistics, 1,683,905 ethers are locked in the ETH 2.0 contract, which is more than 1 billion USD at today’s exchange rates. This week, regional reports from China revealed that ten mining equipment manufacturers are reportedly “accelerating” the development of a new type of Ethereum miner.
The Ethereum Network Hash Rate Chart from etherscan.io shows the historical measure of the processing power of the Ethereum network.
The reason for the rush to build a next generation Ethereum miner is because of the limited time remaining that PoW will be available. Finance columnist Vincent He said that Bitmain made an Ethereum mining facility called “E7” in July 2020. According to reports, the E7 was producing 800 megahash per second (MH / s) at the time.
There was never mass production of the E7’s sales, though, despite monitored data showing the miners were operating in the wild. A new miner who is being discussed and speculated is called “E9” miners and Vincent. He says the E9 is theoretically twice as fast as the E7.
According to statistics, the Innosilicon A10 Pro + Ethminer is currently the best ether mining rig on the market. At the current ETH exchange rates and USD 0.06 per kilowatt hour (kWh), a machine can bring in USD 26 per day. According to 8btc columnist Vincent He, ten Chinese mining equipment manufacturers are reportedly racing to develop a next-generation aether-mining drill rig.
If a person were to run a theoretical E9 model at 1600 MHz / s, the person could earn $ 52 per day per machine at electrical rates of $ 0.06 per kWh. The miner would be ridiculously profitable if prices stayed the same or increased higher, as today’s top machine only has a performance of 720 MHz / s.
The machine is made by the Innosilicon company and the A10 Pro + Ethminer was released just this month. In fact, for the Ethash consensus algorithm, Innosilicon commands the best Ethereum-based miners with hash rates between 485 MHz / s and 720 MHz / s.
There were also rumors that Field Programmable Gate Array (FPGA) Ethereum mining solutions will also be used for the next two years. Currently, it is estimated that a supply of 32 ETH ($ 20,778) will be roughly 13% or $ 2,800 per year if ETH prices are at $ 650 per unit.
An Innosilicon A10 Pro + Ethminer costs between $ 6,500 and $ 7,000 per unit. It would take more than 250 days to pay off the machine at $ 0.06 per kWh at today’s ETH exchange rates. Over time, Ethereum miners may find it more valuable to start staking out Ethereum or wait for machines like the theoretical E9.
What do you think of Chinese mining companies doubling down to create a next-generation Ethereum mining rig? Let us know what you think on this matter in the comments section below.
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$ 0.06 per kWh, 1600 MHz / s, A10 Pro + Ethminer, Bitmain, Cryptocurrency, E7, E9, ETH, Ethash, Ether, Ethereum, Ethereum Exchange Rates, Ethminer, FPGA, GPU, GPU Miners, Innosilicon, Mining , Mining consensus, mining ethereum, mining rig, PoS, PoW, proof of work, proof of deployment, deployment, two years, Vincent He
Photo credits: Shutterstock, Pixabay, Wiki Commons, Innosilicon, Asicminervalue.com, etherscan.io,
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