Bitcoin is an electronic cash form of cryptocurrency. It is a decentralized digital currency that can be sent from user to user on the peer-to peer bitcoin network without the need for intermediaries without a central bank or single administrator.
|Model||Antminer S17 Pro (53Th)|
Antminer is a brand and product line from Bitmain offering the same name for Bitcoin mining machines. Jihan Wu and Micree Zhan founded it in 2013.
The first product of Bitmain was the Antminer S1, an ASIC Bitcoin miner that produces 180 GH / s while using 360 Watts of power was introduced on November 2013. During these early days, the company experienced explosive growth. The market was not congested and ASICMiner and Butterfly Labs were the only real competitors. Both of these firms had beaten Bitmain to the punch; since 2012 they had been producing successfully ASIC chips.
It was the epic hack of Mt. Gox that began the sequence of events that would eventually lead to the dominance of Bitmain in the market. In 2014, Mt. Gox was the biggest BTC exchange in the world. The same year, a devastating hack would lead to this crypto-goliath's demise. The hack also led to a market crash that, in less than 24 hours, saw BTC lose half its value. For years, the crash destroyed interest in the mining industry. It also left the competition of Bitmain in search of other business ventures. This made it possible for Bitmain to capture more market share.
In 2015, the release of the Antminer S5 catapulted Bitmain back into the spotlight and the profits back. The Antminer S5 became so popular that it ultimately gave Bitmain control over 70% of the total hash power of the network at that time. Today, due to the success of their ASIC mining rigs, the company still retains a large percentage of the market. The company also operates BTC.com and Antpool, historically two of the largest bitcoin mining pools.
By 2018 it had become the world’s largest designer of application specific integrated circuit (ASIC) chips for bitcoin mining.
Bitmain participated in the 2018 Bitcoin Cash split, side by side with Roger Ver on Bitcoin Cash ABC.
Bitmain ‘Antminer’ Product Historic Timeline
|Model||Efficiency Ratio||Hashrate||Energy||Release date|
|Antminer S1||0.00050 TH/J||0.18 TH/s||360W||2013-11|
|Antminer S2||0.00090 TH/J||1.00 TH/s||1100W||2014-03|
|Antminer S3||0.00129 TH/J||0.44TH/s||340W||2014-07|
|Antminer S4||0.00143 TH/J||2.00 TH/s||1400W||2014-10|
|Mineable Coins SHA-256|
|SHA-256 is a member of the NSA-designed SHA-2 cryptographic hash functions. SHA stands for the algorithm Secure Hash. Cryptographic hash functions are mathematical operations running on digital data; a person can determine the integrity of the data by comparing the computed hash (the output from executing the algorithm) to a known and expected hash value. It is possible to generate a one-way hash from any data piece, but the data can not be generated from the hash.|