At the World Digital Mining Summit in Dubai, the leading application-specific integrated circuit (ASIC) bitcoin mining rig manufacturer, Bitmain, revealed the company’s most powerful bitcoin mining device to date. The new Antminer S19 XP will boast up to 140 terahash per second (TH/s) and uses 27% less electricity per terahash than the most efficient and profitable bitcoin miner today.
The New Antminer S19 XP Boasts 140 TH/s and 27% Less Electricity Consumption per Terahash
This week the bitcoin mining industry has been buzzing about a new ASIC SHA256 mining rig manufactured by the company Bitmain. News about the new miner was first leaked by the Chinese journalist and former Bitmain employee Colin Wu. The journalist wrote that compared to the current generation of Antminer S19s, the latest in the series of models has “been greatly improved.” Following Wu’s tweet on November 6, Bitmain hosted the World Digital Mining Summit (WDMS) in Dubai and revealed the firm’s next-generation machine.
Bitmain’s new miner will pack a lot of computing power as 140 TH/s will be the most powerful mining rig released on the market to date. The new rig’s specifications show the miner’s efficiency is 21.5 joules per terahash (J/TH), which is considerably more efficient than the S19 Pro’s 29.5 J/TH. The S19 XP not only will use 27% less electricity per terahash, it also claims to provide 37% more hashpower per kilowatt-hour (kWh). The S19 XP leverages the SHA256 mining algorithm and has a power consumption of 3,010 watts off the wall.
Five Selected Companies Will Be First to Acquire Bitmain’s New Machines
According to the announcement, the machines will be available to the general public in July 2022. However, it seems that five bitcoin mining operations have been selected to be Bitmain’s first S19 XP customers. Greenidge Generation Holdings Inc. (Nasdaq:GREE) was one of the companies selected and Ault Global Holdings’ (NYSE American:DPW) subsidiary Bitnile was also chosen to partner with Bitmain. Milton “Todd” Ault, III, the company’s executive chairman, tweeted some photos of himself signing a contract on stage in Dubai.
Bitnile disclosed the new shipment of Antminer S19 XPs will be leveraged at the firm’s Michigan data center and “result in a significant increase in Bitnile’s Bitcoin mining capabilities and future revenues.” The announcement stemming from Greenidge details that the company aims to deploy its units “at a facility to be developed in South Carolina or Texas.” Greenidge also explained that the delivery of S19 XPs will occur in the “third quarter of 2022.”
Bitmain’s Antminer S19 XP will also boast 5-nanometer (5-nm) chip technology and the semiconductors come from Taiwan. In the Greenidge S19 XP acquisition announcement, Bitmain’s business development director of the NCSA region, Irene Gao, discussed the new S19s. “Like Greenidge and many of our customers, Bitmain is dedicated to improving the carbon footprint of the bitcoin mining industry. That is why we’re thrilled to announce not only the S19 XP but also the green Antminer S19 XP.” Gao concluded:
Bitmain is manufacturing a limited edition green Antminer S19 XP and is offsetting 100% of the carbon footprint associated with the production and the first year’s operation of these miners by purchasing carbon offset credits.