Bitmain has launched the Antminer E3, marking the first time a major hardware manufacturer has brought an ASIC miner to the Ethash algorithm. The company confirmed what had been circulating in rumors
Bitmain has launched the Antminer E3, marking the first time a major hardware manufacturer has brought an ASIC miner to the Ethash algorithm. The company confirmed what had been circulating in rumors and leaks for months: Bitmain, the world's dominant force in Bitcoin mining hardware, was moving into the Ethereum space.
Ethash mining had resisted ASIC development. Miners relied on GPUs—the same chips in gaming computers—to mine Ether. Those GPUs remain usable, but GPU miners now face competition from the E3.
Bitmain will begin shipping units in mid-to-late July, with deliveries expected to arrive in August. The miner costs $800. It delivers 180 MH/s of hashing power while consuming 800W. Customers can pre-order in USD or BCH. Bitmain has restricted where people can purchase units, blocking sales to China, Hong Kong, Taiwan, and Macau. The company also limits each person to one unit—a policy it enforced when releasing earlier models like the A3 and X3, banning accounts that tried to work around the restriction.
Bitmain isn't the sole manufacturer pursuing this market. Christopher Rolland, an analyst at Susquehanna International Group, noted that while Bitmain controls 70-80% of the Bitcoin ASIC market and arrived first with an Ethash product, "we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development."
The news has divided the Ethereum community. Some view the E3 as progress in mining efficiency. Others worry it hastens the decline of GPU mining and concentrates hash power among a small number of industrial operators. Ethereum developer Piper Merrium has filed EIP #958, which proposes the community decide whether the blockchain should "fork" to implement stronger ASIC resistance.
A separate threat to Antminer E3 profitability exists: the hardware's limited lifespan. Ethereum's development roadmap calls for a shift from proof of work to proof of stake this year, a transition aimed at improving network scalability. If that schedule comes through, these $800 devices may become unviable before their buyers expect.
