Bitcoin Price Could Hit $15,000 This Year

Christopher Matta, Goldman Sachs

According to my estimates, the recent tx spam on the ETH network cost up to ~$15m USD

Vitalik Buterin

Former Canaan Developer Announced The Release Of ASIC Miners For Ethereum

A new firm called Linzhi has announced the launch of a new line of ASIC-miners for Ethereum, in its efficiency significantly superior to the devices of the Chinese giant Bitmain.

Linzhi company was founded by Chen Min, an ex-employee of a major manufacturer of mining chips Canaan Creative. The first products of the company will be created on the Ethash algorithm basis.

Chen Min noted that the new Ethereum miner under the Ethash algorithm would consume eight times less electricity than the Antminer E3 device from Bitmain. At the same time, the hash rate of the device from Linzhi will be 1400 MH/s (for comparison, E3 has only 190 MH/s).

Min also adds that given the current price of Ethereum and the complexity of the network, the new miner is able to produce $20 per day (while E3 from Bitmain is only $3). The price of the device is unknown, however, the developer notes, the payback period of the miner will be about four months.

The new device is still under development. According to the company’s forecasts, the first batch of miners from Linzhi will enter the market in April next year.

Last month, Canaan Creative presented a miner for bitcoin mining with a 7-nanometer chip and a hashrate of 30 Th/s.