Chinese Mining Company Threatens Nvidia & AMD With New ETH Chips

Chinese Mining Company Threatens Nvidia & AMD With New ETH Chips

As it is known, miners utilize graphics cards for producing cyber assets, which they can later vend or “hodl.” Usually, these cards are based on chips, manufactured by such giants as Nvidia and AMD.

However, now both of these companies are threatened as the cagey Chinese-headquartered mining entity for ethereum announced a novel chip for crypto-producers.

A New Technological Threat

On April 3, a mining company Bitmain unveiled its particularized cyber-coins mining system for ethereum. This system, some analysts forecasted, according to CNBC, could damage the inquiry for graphics cards.

"We are pleased to announce the Antminer E3, world's most powerful and efficient EtHash ASIC miner,” the company announced on Twitter.

The following criteria can characterize this novel chip:

  • the ordering limit of one miner for one user
  • limited stock
  • not available in China

The company also notified that it is going to deliver ethereum mining equipment for $800 per unit in mid t late July.

It is noteworthy that cyber-coin ETH has skyrocketed by over 800% within the past year, as per Coinbase.

The Company Is Dangerous

Bitmain is known in the crypto-ecosystem for its particularized ASIC chips. They are known to be more effective when it comes to mining than those, produced by Nvidia or AMD.

According to Bernstein experts, there is a high likelihood that this secretive China-headquartered company has gathered as much earning as Nvidia in 2017. They also assume that the significant part of Bitmain’s income is made up of vending mining systems by its chips.

As CNBC reports, now Wall Street is worried that Bitmain will prevail in the niche of ethereum mining.

And the consequences can be already seen. In particular, global trading tech company Susquehanna has already reduced its price targets for Nvidia and AMD shares, referring to the upcoming rivalry from the Chinese company in the ETH niche.

Image Source: Twitter

Ethereum Foundation Confirms Upcoming ‘Istanbul’ Upgrade
On November 7th, Péter Szilágyi announced the date of the foundations impending upgrade, known as ‘Istanbul’. This upgrade will be the eighth hard...
Ethereum Devs Name The Date of Postponed Constantinople Fork
As it is known, on January 17 the Ethereum’s update Constantinople was supposed to be activated. However, this did not happen due to a vulnerability...
Ethereum Devs Postpone Constantinople Fork Due to a Vulnerability
Anticipated to occur on January 17, the long-awaited Ethereum’s Constantinople update has been delayed again. The cause is the recently found...
Ethereum Becomes Second Most Valuable Crypto Again
Ethereum has finally recovered and reclaimed its title of the second most valuable cyber-asset in the world after its elder brother bitcoin. Gaining...
Here’s When Ethereum’s Constantinople Hard Fork Will Happen
Constantinople hard fork will occur in the middle of January, a new agreement between Ethereum developers implies. Earlier it became known that the...
Ether Mining No Longer Profitable, Says Semiconductor Analyst
Mining ether at home is not lucrative any longer, particularly, when using kits with graphics processing units (GPUs). The latter is Nvidia's top...
Ethereum’s Lubin Says Blockchain Will Develop Longer Than Internet
Many crypto-experts have predicted that the enactment of DLT would be as revolutionary as the one of the World Wide Web. However, the situation with...
700 Households in Germany Benefit from Ethereum Energy Project
Cheaper energy due to the unaltered ledger is real. Lition, an Ethereum-based project, supplies 12 largest German cities with energy at a lower cost...
Why Ether Price Shorts Break the Record
On October 11 an immense selloff started on the cyber-asset market. Within a few days, the market lost around $19 billion in value, reaching the...
Ether’s to See Good Times, Bitcoin Bull Tom Lee Predicts
Bitcoin bull Thomas Lee has switched his attention to the second most popular cyber-coin ether. Lee, who is the head of research at Fundstrat Global...