The crypto mining giant has been extensively reported to be fighting in the past couple of months. The latest setback to the company was that the expiry of its Initial Public Offering (IPO) filing, which was triggered by the lack of a hearing loss against the Hong Kong Stock Exchange (HKEx).
The Antminer S17 is the most recent in the business’s lineup of fabless mining processors. According to the post, the processors, that are expected to go on sale from April 9, 2019, will provide an energy-efficient means of mining hot cryptocurrencies like bitcoin and bitcoin cash.
When an applicant doesn’t receive a response from the regulator following this period of time, then the application automatically lapses.
Bitmain’s proposed launch of its next-generation S17 string miners wil make it to capitalize on this expected bull run, which may be fueled by an increased desire to mine bitcoin (before the rewards have been cut in half).
Cryptomining manufacturer Bitmain has shown the launch date because of its own next-generation Antminer S17 series. The S17 set of miners comprises the Antminer S17 Pro, Antminer S17 and the Antminer T17.
The timing of the S17 series launch appears to be following a tactical pattern. The Bitcoin halving is projected to hit in May 2020, just over a year following the new miners become accessible. The ASIC hardware producer employed a similar approach in introducing the Antminer S9 version in 2016.
As Bitcoin Magazine reportedthe list rules from the Chinese monetary regulator provide for a six-month consideration window and also a closed-door committee hearing prior to consent is given to an IPO application.
The halving sees to it that the reward granted to a miner for mining a block is halved following the discovery of every 210,000 cubes (which requires about four decades on average). Some anticipate that there may be a bull run resulting in the third halving, that will observe the block benefits reduced from 12.5 BTC into 6.25 BTC.
The miners will soon be fitted with the 2nd production 7nm ASIC BM1397 mining processors that Bitmain asserts would provide a 28.6 percent increase in power efficiency.
According to Yanxin, Bitmain’s product director, the improved energy efficiency of the S17 miners will lead to”improved performance compared to the previous generation chip” and also the increase at the”hashrate density per unit distance,” which reduces costs because of mining farms.