Bitmain’s Latest Air-Cooled Antminer Set for Q1 2024 Shipping

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Bitmain’s Latest Air-Cooled Antminer Set for Q1 2024 Shipping
Source: Bitmain

Bitcoin mining firm Bitmain has formally launched the Antminer T21, a new air-cooled Bitcoin miner. The company made the announcement today, October 26, on X.

The Antminer T21 is the company’s new air-cooling miner, which can tolerate temperatures as high as 45 degrees Celsius. The new mining gear from Bitmain is anticipated to ship in January 2024.

ANTMINER T21 World Premiere!A big hit of T21!19J/T 190TAdjustable from NEM to HEMTolerant to ambient temp. 45°C!

Flexible paymentPrice protectionContact BD for more details

— BITMAIN (@BITMAINtech) October 25, 2023

The BTC miner comes with an energy efficiency ratio of 19 joules of energy efficiency per terahash (J/TH) and a processing power of 190 terahashes of processing power per second (TH/a).

This new Antminer T21 offers more energy efficiency per terahash compared to its predecessor, the Bitcoin Miner S21 Hyd, which offers 16.0 J/TH.

In addition, the air-cooling miner is compatible with the SHA256 mining algorithm, which is used for mining proof-of-work (PoW) cryptocurrencies like Bitcoin, Bitcoin Cash, and Bitcoin SV (BSV).

According to Bitmain’s head of marketing, Xmei Lin, the Antminer T21’s global launch took place at the Blockchain Life 2023 Forum in Dubai.

World Premiere of T21 in @BlLife_Forum Thanks for the support

— XmeiLin (@xmei_lin) October 25, 2023

Furthermore, the company gave pre-order buyers of Antminer T21s a chance to get Bitmain’s price Protection Plan, which is intended to assist miners in the event that cryptocurrency values drop.

The Protection Plan, which is available until November 25, 2023, will shield customers against the downside fluctuations in the price of Bitcoin for a one, three, or six-month period.

The company emphasized that customers will receive monetary compensation in the event that the price of Bitcoin drops below the strike on any reference day during the protected period. The price on the reference day is the average Bitcoin price for 24 hours on any calendar day.

Bitmain promises to compensate customers “immediately upon the triggering event.”

Bitmain Holds Back on Staff Salaries

Bitmain was founded in 2013 in Beijing, China, and has quickly gained recognition as a prominent global producer of Bitcoin (BTC) mining ASICs.

However, the firm faced a significant setback due to a contentious power struggle between its co-founders, Wu Jihan and Ketuan Zhan.

Nonetheless, in 2021, Bitmain’s co-founders, Jihan Wu and Ketuan Zhan, reached a resolution in the year-long ownership dispute.

According to the settlement, Wu agreed to step down from his roles as chairman and CEO of Bitmain and sell his ownership share to Zhan for $600 million.

Despite its success over the years, there have been concerns about the well-being of its employees.

As reported by local news sources and corroborated by several Bitmain employees earlier this month, the company issued a notification indicating that its operational cash flow remained negative in September 2023.

This predicament was compounded by the subpar performance of the miners (i.e., the mining machines deployed in the mines).

In response, Bitmain reportedly delayed the disbursement of a portion of its employees’ salaries for September.

Bitcoin ASIC manufacturer Bitmain pauses employee salary payments: Report

Bitmain is one of the world's largest ASIC manufacturers.

— Minerium (@MineriumUS) October 10, 2023

These salaries were slated to be disbursed after the October 7 holiday, contingent on the circumstances at that time.

In addition, multiple employees disclosed that their performance-based wages for September were not only withheld but half of their basic wages were also subjected to deductions.

However, the timeline for the release of these withheld wages remains uncertain. As of October 8, employees had not received their outstanding wages, and the year-end bonuses for 2022 had yet to be disbursed.

The post Bitmain’s Latest Air-Cooled Antminer Set for Q1 2024 Shipping appeared first on Cryptonews.

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