What can Antminer mine? (What is Antminer used for?)

What can Antminer mine? According to the official website of Antminer, in addition to mining Bitcoin, other cryptocurrencies are also being listed on major exchanges. Platforms such as Binance, Gate.io, and OKEx have also started launching their own mining projects, with lower costs for purchasing mining machines on Binance. However, there are still many individuals who unlawfully transfer this computing power to their own accounts for arbitrage activities to gain high returns. “Buying” a mining machine is a way to sell it after buying it, for example, buying a Bitcoin mining machine from Bitmain’s Antminer S19 series (S-19J), and then buying a new machine S17Pro. This new machine can be exchanged for Antminer A10S and Antminer B12S in the M20s version.

At this time, it is necessary to buy a new mining machine, the S15T, which costs around, but now many users are asking what Antminer can mine. What is the meaning of “buying” it? Today, let me introduce the old-fashioned mining machines.

What is Antminer used for

Editor’s note: This article is from the Fenghuo Wheel community(ID:FHBT18), author: Peipei, authorized reprint from Odaily Star Daily.

In recent months, we have seen a very high heat in mining, and many graphics cards have started to use Antminer or other machines produced by Bitmain. For example, today I will share some data with you:

From the chart above, it can be seen that the Bitcoin has already exceeded 1000 Mts in computing power. If we look at the current price, it’s approximately over 4 million RMB! And this number is far beyond the data value in January 2019, isn’t it? Of course, not like this, after all, the growth of the entire network computing power in the first half of this year is also a vigorous trend. But comparing the income situation at the end of last year, it is certain: Under the condition of Bitcoin’s skyrocketing price, the computing power on Ethereum has been relatively stable. In addition, with the continuous rise of the market, some old-school companies are also increasing their holdings of Bitcoin and other digital currencies through mining to obtain Bitcoin. However, it seems that there are also many illegal elements using Bitcoin for speculative activities. But this “bottom-fishing” effect will indeed lower the price of Bitcoin. Moreover, in addition to some small domestic exchanges in the market, large overseas platforms like Binance may not yet understand Bitcoin mining. So for mining, I estimate that many people don’t know how to participate. So what is the reason for its existence? First, it is a new technology, a brand-new business model, and a new technological form. On the other hand, due to its unique hardware design, its production process is more easily managed, so there are corresponding policy restrictions. Moreover, because there is no dedicated R&D work for certain specific types of products, this leads to higher costs and other issues. Coupled with the high demand for these products from ordinary users, many people think this is a problem-although Bitcoin as a new financial system has certain risks, Bitcoin is not the first thing to land in the blockchain field. In addition, in real life, most people have contact with Bitcoin. What is Bitcoin called? Let me briefly explain what mining is. Mining in the mining industry is mainly divided into two categories:

1) Bitcoin mining, that is, by purchasing ASIC chips or integrated circuit devices, the Bitcoin mining process is transformed into another form of proof-of-work mechanism, similar to an electromagnetic recording plate. In other words, in order to obtain higher yields and reduce energy consumption, mining requires a large amount of power resources, which can cause phenomena such as large energy consumption and carbon emissions, affecting the environment. (I am collecting hash value information here.)

2) In the cryptocurrency investment market dominated by Bitcoin, most investors are not optimistic about Bitcoin mining, and they hope that the funds they hold can appreciate in the long term, rather than becoming a tool for short-term speculation. When you have a large amount of BTC, the total reserve value in your wallet exceeds 200 million US dollars.