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Bitmain, the Beijing-headquartered cryptocurrency mining giant, announced the release of its new miner that it claims is three times more powerful than its predecessor. The new device, named Z11, is aimed at mining virtual coins that are based on the Equihash proof-of-work algorithm. The privacy-focused altcoin ZCash (ZEC) is going to be one of the primary beneficiaries of this new all-powerful miner.
Despite the current bear market having affected miners’ ability to invest in new rigs, it has not stopped the companies that make them from carrying out their innovation and development plans. Many companies, despite reporting underwhelming revenues in 2018, continue to push for newer better devices with the hopes of Bitcoin and other cryptocurrencies having another bull run in the near future; Bitmain is one such company. With this launch, they have shown their resolve to see the current bear market through and come out the other end as a survivor.
Talking about the specifications of the new device, the company said that the new device offers a hashing power of 135K sols/s (solutions per second). This number is three times more than the sols/s offered by Z11’s predecessor Z9. Sols/s loosely translate to ‘hashes per second’ which is the number of hash computations created per second in the cryptocurrency mining. Moreover, Z11 uses a newer more optimized 12-nanometer chip. With a power efficiency of 10.50 J/KSol, the Z11 is capable of doing 60% more work with the same amount of energy as compared to the previous gen Z9.
The device is currently available on Bitmain’s website for presale and Bitmain promises that they are ready to start shipping soon. Talking about their commitment to the ZCash community and transparency, Bitmain stated:
“To preserve the Zcash community’s values around security, reliability, and accessibility, Bitmain had previously Tweeted real-time updates to ensure more transparency and will continue to provide shipping updates of the first batch of the Antminer Z11. These commitments to transparency will continue to provide the Zcash foundation and community with the security, reliability, and accessibility they desire of manufacturers.”
Bitmain has long been a major player in the mining equipment area. Just last month, they announced the next-generation 7nm ASIC chip for mining SHA-256 digital coins such as Bitcoin(BTC)trade and Bitcoin Cash (BCH). These 7nm processor chips will be even more energy efficient than the Z11 device.