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BITMAIN THRIVING AMID NON-PROFIT WITNESSED BY OTHER CRYPTOCURRENCIES

 

Bitmains, Chinese mining giant has continued to not only have its new products sold out but is also developing some of its older devices to fit the ever competitive market. All this is happening at the same time when some cryptocurrency miners are allegedly parking up as a result of non-profit.

Suspicions had grown that the Antminer E3, Bitmain’s popular ASIC miner was to become outdated by April 2020, but it will continue mining Ether (ETH) at least till October 2020. This is because, according to a blog post, Antminer E3’s lifespan was prolonged with specific designed firmware launched by Bitmain. The new firmware was developed to allow miners to continue using Antminer E3 even after March 2020.

The Antminer E3’s new firmware specifically addresses a problem with Directed Acyclic Graph (DAG) files, initially reported by altcoin mining pool, 2Miners in February 2020. According to 2Miners, DAG growth was the basic reason for restricting the capability of Antminer E3s for mining Ether and Ethereum Classic (ETC) due to finite memory capacity.

Subsequently, Bitmain confirmed the DAG growth challenge, acknowledging that its double date rate (DDR) memory was approaching the limit of 4GB. 2Miners calculated that Antminer E3 would stop Ether mining approximately on April 8, 2020.

Bitmain’s firmware handles the DAG growth issue directly. However, Antminer E3’s lifespan has now been extended with the new firmware that addresses the DAG problem directly. The new firmware, according to Bitmain, will expand the usage of DDR memory, as more space is needed to process DAG files.

 

 

 

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Crypto Stats


CryptoCurrencyUSDChange 1hChange 24hChange 7d
Bitcoin56,602 0.77 % 1.39 % 3.77 %
Ethereum1,991.5 0.69 % 4.61 % 3.95 %
Binance Coin387.48 1.77 % 3.61 % 27.99 %
Tether1.000 0.41 % 0.07 % 0.12 %
Polkadot43.88 0.58 % 0.43 % 36.39 %
Cardano1.190 0.38 % 3.24 % 0.10 %
XRP0.9368 0.79 % 10.96 % 63.26 %
Uniswap29.10 1.79 % 5.03 % 3.77 %
Litecoin223.78 0.43 % 4.39 % 13.88 %
Chainlink31.80 1.39 % 6.50 % 8.95 %