Bitcoin Mining Hardware War Is Heating Up Ahead of the Halving

In an online conference today, MicroBT COO Jianbing Chen announced three new mining machines - the WhatsMiner M30S+, M30S++ and M31S+. At the event, Chen also provided details on MicroBT’s 2019 sales figures, revealing the firm sold 600,000 units of its WhatsMiner M20 series in 2019, double what it sold of its WhatsMiner M3 series in 2018. According to Chen, the 2019 sales amount accounted for 35$ of Bitcoin’s total hash rate at the end of December.

Why it matters:

• The battle in the Bitcoin mining space between Bitmain and MicroBT has picked up over the past year with MicroBT gaining significant market share.
• The rollout of new hardware comes less than 30 days before the upcoming Bitcoin halving. Chen believes the mining market is entering the "3X era," referring to a mining efficiency that's below 40 watts per terahash (W/T).

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