The 2.0 transition of the Ethereum network has resulted in the protocol becoming one of the largest strike networks in the world with 1,683,905 ether tied to the $ 1 billion contract today. According to reports from China, while proof-of-work ethereum miners still have two years to mine key crypto assets, ten Chinese mining facility manufacturers are reportedly racing to create a next-generation ether mining facility.
The Ethereum 2.0 project has grown into one of the largest proof-of-stake (PoS) networks in the world, but while humans can deploy, miners still have two years to use ASIC mining through proof-of-work (PoW).
According to etherscan.io statistics, the ETH 2.0 contract has trapped 1,683,905 ether, which equates to more than $ 1 billion USD based on current exchange rates. This week, regional reports from China reveal that ten mining rigs manufacturers are reportedly “accelerating” the development of a new type of etheric miner.
The reason for the rush to build a next-generation etheric miner is because of the limited time that PoW will be available. Financial columnist Vincent He said an ethereum mining platform called the “E7” was being produced by Bitmain in July 2020. According to reports, the E7 was producing 800 megahash per second (MH / s) at the time.
However, there was never any mass production of the sale of the E7 even though the verified data had shown that the miners were operating in the wild. A new miner that is being debated and speculated on is called the “E9” miner and Vincent. He says the E9 theoretically performs twice as fast as the E7.
If a person were to use a theoretical E9 model at 1600MH / s, then the person could earn $ 52 per day per machine with electrical rates of $ 0.06 per kWh. The miner would be ridiculously profitable if the prices were to stay the same or increase higher as the current top-of-the-line machine only has an output of 720MH / s.
The machine is manufactured by the Innosilicon company and the A10 Pro + Ethminer was released just this month. For the ethash consensus algorithm, Innosilicon recommends the best ethereum based miners with hashrates between 485MH / s to 720MH / s.
There are also rumors that field-programmable gate array (FPGA) ethereum mining solutions will be relied on in the next two years. At the moment, people estimate a stock of 32 ETH ($ 20,778) will yield about 13% or $ 2,800 annually as a ETH prices are at $ 650 each.
An Innosilicon A10 Pro + Ethminer ranges in price between $ 6,500 and $ 7k per unit. It would take more than 250 days to pay off the machine at $ 0.06 per kWh and use today ETH exchange rates. Over time, ethereum miners may find it more valuable to put out ethereum or wait for machines like the theoretical E9.
What do you think of Chinese mining manufacturers doubling down to create a next-generation etheric mining rig? Let us know what you think about this topic in the comments below.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Innosilicon, Asicminervalue.com, etherscan.io,
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