Bitmain might have struggled considerably with the hard-fought bear of the crypto winter. The company is showing that it is still the biggest mining manufacturer around the globe after selling out the first batch of its high performing new Z11 ant miners within 20 minutes.
Resiliency at Its Peak
Bitmain is the biggest mining hardware manufacturer, and is consequently one of the biggest providers of semiconductors across the world, in the same breath as popular companies such as Samsung. The company endured very difficult times last year after seeing its fortunes take a drastic plunge following a good start to the year. The first half of 2018 saw Bitmain rake in more than $3 billion in revenue, an impressive high in what was a tepid beginning for the crypto market.
However, Bitmain rode their luck out after July and would only manage a much lesser revenue—compared to earlier posted figures—of $200 million.
Bitmain has regardless continued to work on the development of their products, prioritizing cost-energy efficiency and transparency as it prepares itself for another—in all hope—crypto bull run which will see the company’s stock rise again.
Deploying the AntMiner Z11
The AntMiner Z11 has been designed to mine coins based on the EquiHash algorithm such as popular privacy coin, ZCash. The EquiHash algorithm which was developed in the University of Luxembourg by two professors and crypto researchers have quietly gained attention in the short span of its existence and is part of the cogs behind ASCII resistance.
EquiHash, with its memory-hard proof of work algorithm, ensures that mining power is correlated and directly proportional to the amount of RAM that one has. The new Z11 miner has been revealed to perform at a capacity that is least three times that of its immediate past version. An excerpt from Bitmain’s announcement read:
“The Antminer Z11 offers a hashing power of 135 KSol/s, which is three times more powerful than that of the Antminer Z9, Bitmain’s previous EquiHash miner. With a newly designed internal circuit structure, the Z11 also has a power-efficiency of 10.50 J/KSol, saving 60% of electricity cost compared to the Z9.”
With these impressive specifications and improvements, it is no surprise Bitmain completely sold off within a third of an hour.