Mining Rig Producers Diversify as Market Heats up

Mining rig producers are increasing their companies into new areas, together with exchanges and mining with their very own (and generally borrowed) gear.

Bitmain Runs out of Antminers 

Crypto mining {hardware} firm Bitmain posted on Feb. 27 that some Antminers had been bought out. Specifically, the primary batch of Antminer S19j after the Chinese language Lunar New 12 months was bought out. Bitmain said that the corporate was making ready one other batch to deal with the demand.

On Mar. 12, Bitmain will maintain a convention in Shenzhen. On the convention, referred to as “2021 Bitmain Accomplice Summit”, the corporate will cowl vital information similar to its new gross sales ordering mannequin in addition to its world gross sales technique.

New Instructions for Canaan

In the meantime, Bitmain competitor Canaan Artistic introduced on Feb. 27 that anticipated income was coming into focus. North American shoppers positioned orders for 100,000 Bitcoin miners, with some pay as you go. Canaan claims that the corporate’s present manufacturing middle will work at full capability for 2021 and past. 

Canaan CEO and Chairman Nangen Zhang factors to a change within the firm’s gross sales focus. Beforehand, Canaan centered its efforts on small-scale, particular person miners, who typically didn’t have long-term plans in place. The corporate is now centered on publicly traded firms and funding funds with longer horizons – and bigger orders.


The third-largest mining rig builder is stepping into the mining enterprise. In a Feb. 25 information launch, Ebang introduced that it plans to provoke mining for Litecoin and DogeCoin. On Feb. 17, the corporate introduced the launch of Bitcoin mining.

Ebang sees itself utilizing own-built machines. Nonetheless, it additionally envisions including outdoors capability within the type of both shopping for or renting bodily machines from different producers or leasing capability from different mining farms.

On Dec. 31, 2020, Ebang introduced that it might open a cryptocurrency trade within the first quarter of 2021. Within the launch, Ebang claimed that it had already accomplished inner testing of the platform.

What their Shopper Base is Doing

The truth that the mining rig firms are branching out is not any shock. Their shoppers are doing likewise. 

On Feb. 26, Marathon Patent Group modified its title to Marathon Digital Holdings. Marathon is amongst Bitmain’s largest shoppers. On Dec. 28, 2020, Marathon positioned Bitmain’s largest order ever, with 70,000 S-19 class rigs ordered. The deal was price roughly $170 million.

Nonetheless, even the large mining rig use deliberate isn’t sufficient for Marathon; therefore, the title change. The scope does as effectively. Marathon now calls itself a “cryptocurrency mining and digital asset administration” firm.


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