Bitcoin mining rigs are becoming more powerful despite environmental concerns
- Big mining rig makers are raising the stakes with higher hash rates.
- Upcoming crypto mining rigs will provide upwards of 200 terahash per second.
Microbtand Bitmainare two of the largest mining rig makers in the world.
But Microbt, which was founded in Beijing, China, isn’t the only company looking to raise the stakes in terms of mining hash rates. The company’s new rig isn’t even as powerful as new devices from fellow Chinese competitor Bitmain, whose
Bitmain and Microbt together own the lion’s share of the crypto mining industry. Bitmain accounted for 75% of the crypto mining market back in 2018, according to a report by research firm Frost & Sullivan. The company had also sought to list on public stock exchanges back in 2019 but let its application on the Hong Kong stock exchange lapse at the time.
In March this year,
Bitmain and Microbt are both looking to enhance hash rates well beyond what their current devices can achieve as well. Bitmain had unveiled a device called Antiminer S19 XP Hyd back in January, which provided 255 TH/s worth of computing power, while Microbt suggested during its announcement at the Bitcoin 22 conference that it would also produce mining rigs with 240 TH/s of computing power.
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