Thursday, 01 December, 2022

Bitcoin Mining Hardware Battles in the upcoming Bitcoin Halving

The COO of MicroBT, Chen Jianbing announced that the firm’s 3 new models: WhatsMiner M30S+, M30S++ and M31S are now available through pre –orders and warehouse inventory. In an online event where Chen made the announcement, he also provided the details on the sales figures of the MicroBT in the year 2019. He revealed that the company was able to sell 600,000 units of the model series in the year 2019. This is double the amount they were able to sell in 2018 of their WhatsMiner M3 series. In total, Chen mentioned that the sales amount accounted for 35 USD of bitcoins total hash rate. 

The new models of MicroBT are expected to be helpful and effective in the next and upcoming Bitcoin Halving. Hence, the battle in the ming space of between between MicroBT and Bitmain has shown that is now gaining significant share in the market. Furthermore, through these latest models and equipment from the leading manufacturers in the industry, the market of bitcoin mining market is now entering the 3x era as referred by Chen. This pertains to the efficiency of a mining transaction that is below 40 watts per terahash.  

Overall, the competition in the manufacturers is considered as a good element in the market. First, they will be able to create and develop more equipment,  machines and software like the bitcoin code app that could help traders, investors and institutions in their mining transactions. Secondly, the prices will be reasonable because of the presence of the competition in the market Lastly, it is important to determine the price of bitcoin in the next halving so people can make the right decisions and actions. This will be all possible with the aid of and presence of technology.