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Demand for New Mining Rigs is Rising for the Upcoming Bitcoin Halving in 2020

Bitcoin Bullish

The Mining rig companies Bitmain, Pangolin, Ebang, Innosilicon, and many other brands are pressurized to built newer mining rigs capable of mining at larger Hash Rates due to the forthcoming Bitcoin Halving in 2020. There are already in-capable mining rigs available both online and in stores, with main focus of each mining rig is to increase the mining capability, so its users will stay in the mining game even after Bitcoin Halving.

Some Mining rigs are computed to have 500% more mining power in terms of the Hash rate compared to its ancestors. Since the introduction of Mining rigs with Higher Hashrates, the net processing power on the Bitcoin network hit an all-time high of 108.5 Million TH/s on the 26th of September, 2019, which is calculated as 160% gain of total Hashrate from the Year start. The Hash rate was recorded at 42 Million TH/s on January 1, 2019.

The Mining rig derivative of Pangolin named Microbt Whatsminer M20S, which is supported by TSMC’s layered 12nm chips was released in August 2019. M20S is noted of delivering up to 70 TH/s with a power intake of 3360KW, which is definitely a jump up from its older versions like the FinFET based M3 and M10 models having 28nm and 16nm chips, they were capable of producing 12 TH/s to 33 TH/s in processing power.

China-based Mining Rig giant, Bitmain has also been producing high-performance Mining rigs to tackle the demands for the upcoming Bitcoin Halving. Bitmain’s popular miner Antminer ASIC has introduced models named S17 and S17 pro and another named T17e which delivers a Hash rate from 50 TH/s to 65 TH/s. It is also believed that the upcoming model  S17+ will deliver Hash Rate greater than 73 TH/s.

Ebang and Innosilicon are also competing with their respective models to meet the given demand. The Bitcoin miners are on the look-out for 7nm chip, due to its less power consumption and more processing power meaning better Hash rate for less power consumed. In response to this demand, Bitmain launched most of its rigs developed using 7nm FinFET chips.

The company took this leap in response to the previous Bitcoin Halving and the demand for Higher Performance Mining Rigs back then. Being the top manufacturer of Mining rigs in the previous halving, Bitmain accounted for more than 60% of all mining rig Equipment.

From the data observed, the next Bitcoin Halving and the time after that will put serious demand on the Mining rigs with better compatibility.

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About Steve Anderrson

Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain. Join the official channel of thecoinrepublic, For the latest news updates:

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