Bitmain has launched its Antminer E9 Ethereum miner (opens in new tab), which delivers efficiency that completely destroys any GPU setup when it comes to effectivity. Bitmain claims a single Antminer E9 can ship the efficiency of as much as 25 RTX 3080s. If I take the RTX 3060 Ti as one other instance, that quantity rises to round 40. It’s one other nail within the coffin of GPU mining which is nice information for players.
The Antminer E9 is able to 2,400MH/s at 1,920W. When tuned correctly, an RTX 3080 can produce 100MH/s or a bit extra, which means Bitmain’s declare that the Antminer E9 produces the hash energy of round 24 RTX 3080s is correct. And in the case of energy consumption, the E9 pulls far forward of 24 3080s. That many 3080s would eat over 5000W alone, earlier than taking any of the opposite system parts into consideration.
The E9 is clearly extra environment friendly at mining in the case of efficiency and energy effectivity, however the important thing value of the puzzle is the value. On the time of writing, it had but to be revealed. It’s the value that can decide the success or failure of the unit, however, even when it’s effectively priced, it’s mainly useless on arrival.
So, why is Bitmain releasing the E9 now? Truly, the E9 was teased back in April of 2021 (opens in new tab), so what’s been occurring within the meantime? Bitmain operates its personal mining farms and also you’d be loopy to imagine that it hasn’t been utilizing E9s for a while. I consider that the late launch is Bitmain’s try to recoup a number of the price of what’s going to quickly be ineffective tools, not dissimilar to the best way GPU miners are more and more promoting off playing cards in bulk, even via livestream (opens in new tab).
What does all this imply for players? The discharge of GPU destroying ASICs means issues are nice! It’s certainly one of 4 key components that time in direction of the return of the graphics card to its main function. They’re the crypto value crash, the dearth of a worthwhile PoW different, the aforementioned rise of the ASIC and most significantly of all, the upcoming merge.
Ethereum is down 75% from its all time excessive. That implies that mining rewards aren’t value wherever close to as a lot as they have been again on the peak in November 2021. The worth of Eth may recuperate for certain, however it may take years. Too little, too late. That’s strike one.
Strike two is the truth that at this cut-off date there aren’t any cash that come near the profitability of mining Ethereum. Ravencoin? Ethereum Basic? I can’t see it occurring. The development is away from vitality intensive Proof of Work in direction of Proof of Stake.
Strike three is the rise of ASICs just like the Antminer E9. Huge mining farms have actually had entry to ASICs for lots longer than the general public is aware of. Bitmain itself would have been ‘testing’ its personal miners for a very long time, and raking in Eth rewards. Even when Ethereum PoW mining was to proceed, GPU mining would more and more lose competitiveness with ever extra optimized ASICs, not not like what occurred with Bitcoin previously.
Strike 4, and essentially the most important of all, is that Ethereum is getting nearer to the ‘merge’. The merge is when the Ethereum mainnet will merge with the testnet Beacon Chain’s PoS system. Previous to that can come the introduction of the so-called issue bomb. On the time of writing, the newest data is that the issue bomb—the code that exponentially will increase mining issue to disincentivize mining—is ready to go reside across the finish of September or early October. Past that time, generally known as the ‘ice age’, mining turns into utterly unprofitable for ASICs and GPUs alike, and all of it turns into moot.
So, go forward Bitmain. Promote your ASICs to anybody foolish sufficient to purchase them. Huge mining operators aren’t going to make GPU purchases anymore. GPU costs are quickly falling they usually’re ending up within the rigs of players once more. And if none of that was occurring, the clock is ticking down (slowly) in direction of the merge, which is the one factor that actually issues. GPU mining is useless.