The recent surge in Ethereum (ETH) prices has sparked huge demand for devices capable of mining this cryptocurrency. As ETH hits new highs, most new GPUs from AMD and Nvidia have been snapped up by crypto miners in bulk. Meanwhile, prices for used GPUs have skyrocketed in a short time.
However, the GPU shortage might ease soon thanks to a “monster machine” from China’s Bitmain. The world’s leading crypto mining hardware maker is set to launch a dedicated ETH miner called the Antminer E9.
The Antminer E9 is an ASIC miner designed specifically for Ethereum mining, boasting power equivalent to 25 combined RTX 3090 GPUs.
Bitmain’s Antminer E9 is an ASIC (Application Specific Integrated Circuit) built solely for mining ETH. Notably, its hash rate, the key measure of mining power, reaches an impressive 3 GH/s.
To put that in perspective, the Antminer E9’s mining power matches 25 Nvidia GeForce RTX 3090 cards (each around 120 MH/s) or 32 RTX 3080s (about 94 MH/s each) combined.
Compared to Nvidia’s CMP line of mining GPUs, the Antminer E9 equals the power of 115 CMP 30HX units (26 MH/s each). While it consumes a hefty 2556W of power, it maintains excellent efficiency at just 0.85 J/M.
With this power usage, the Antminer E9 can earn roughly $236 daily, with electricity costs around $13 per kWh (the average US rate).
If the 3 GH/s hash rate is accurate, the Antminer E9 would be the strongest ASIC miner on the market, surpassing the Linzhi Phoenix, currently the most profitable ETH ASIC with 2.6 GH/s but consuming 3000W.
This means the Antminer E9 mines 15.3% faster and is 14.8% more efficient. Of course, this power comes at a price.
Unconfirmed reports suggest the Antminer E9 could cost over $20,000, with some speculating prices up to $30,000. For comparison, the Linzhi Phoenix ranges from $11,300 to $13,700.
Could dedicated ETH miners cool down the GPU market?
From the perspective of crypto miners, if the Antminer E9 costs between $20,000 and $30,000, its break-even point would be around 85 to 127 days. That’s a much better investment than buying 25 RTX 3090s, which would cost about $75,000 on the secondhand market and take roughly 311 days to break even, assuming low electricity costs and stable ETH prices.
These numbers make the Antminer E9 extremely appealing to the crypto mining community. The big question is whether dedicated miners like the Antminer E9 can help solve the GPU shortage.
With ETH prices still at record highs, most new GPUs from AMD and Nvidia have been bought up by crypto miners in large quantities.
According to Wccftech, the answer is maybe. If Bitmain can produce enough Antminer E9 units, these powerful ASICs could reduce GPU demand from miners. Instead of using GPUs to mine ETH, miners would switch to more efficient ASICs, freeing up GPUs for gamers and regular users.
However, realistically, Bitmain might struggle to manufacture enough Antminer E9 units due to the global semiconductor shortage.
It’s also worth noting that Bitmain will face competition from Nvidia’s CMP mining GPUs. Whether the Antminer E9 can capture significant market share remains uncertain. Without market dominance, Bitmain may hesitate to mass-produce the E9.
This means the real hope lies in Ethereum’s upcoming shift to version 2.0. The transition to proof-of-stake (PoS) is expected to make GPU mining obsolete. When that happens, many used GPUs could flood the market as miners sell off their hardware, likely causing GPU prices to drop significantly.
Source: Wccftech
