Buy Bitcoin here
  • Crypto
    • Bitcoin News
    • Ethereum
    • Altcoin
    • Blockchain
    • Blockchain Companies
    • Cryptocurrency Exchanges
    • DeFi
    • Regulation
    • Cointelegraph news
    • Press Release
    • ICO News
      • ICOs Review
      • Upcoming ICOs
      • Scam
  • Education
    • CryptoTicker Starter Kit
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
    • Events Review
  • Prices
  • Exchange Comparison
  • Newsletter subscribe

  • News

    • Bitcoin News
    • Altcoin
    • Regulation
    • Blockchain Companies
    • Blockchain
    • Cryptocurrency Exchanges
  • News

    • Ethereum
    • Events Review
    • ICO News
    • Press Release
  • Education

    • CryptoTicker Starter Kit
    • Education
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
  • Cryptoticker

    • About us
    • Advertise
    • Media Kit
    • Submit your Press Release
    • Contact
    • Membership Login
  • Social Media

    Facebook Twitter Telegram Youtube
    • Newsletter
  • Crypto
    • Bitcoin News
    • Ethereum
    • Altcoin
    • Blockchain
    • Blockchain Companies
    • Cryptocurrency Exchanges
    • DeFi
    • Regulation
    • Cointelegraph news
    • Press Release
    • ICO News
      • ICOs Review
      • Upcoming ICOs
      • Scam
  • Education
    • CryptoTicker Starter Kit
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
    • Events Review
  • Prices
  • Exchange Comparison
Starter Kit Membership Search
English
English Deutsch
Menu
Search


Blockchain DeFi Ethereum

Insider Reports Suggest Chinese Miners Are Laser Focused On Ethereum Mining

Posted On December 12, 2020 Taha Zafar 0

  • share 
  • share 
  • share 
  • tweet 
  • share 
  • share 

Ethereum has recently started the transition towards the Proof Of Stake (POS) with the launch of Eth2 Phase 0 and the deposit contract. It’s still in motion and it won’t be until planned Phase 1.5 that the current Proof Of Work (POW) will stop being functional completely. Now, naturally this should discourage miners from purchasing further equipment or expanding their operation, however surprisingly insider reports suggest that the opposite is true.

Ethereum 2.0 Exceeds Launch Requirements As Genesis Event Draws Near

According to Colin Wu – a reporter focusing on the Chinese mining industry, the interest in Ethereum mining seems to be higher than Bitcoin mining this year and several Chinese mining equipment manufacturers are planning to roll out ASIC miners this year. This is perplexing because the Ethereum POW mining is about to end in the next 2-3 years!

Many miners told Wu that new generation of Bitmain ETH machine E9 is in production, performance may reach 1400M, but Wu found Bitmain may not tape out. China's ETH mining enthusiasm is higher than BTC this year. At least 10 companies are preparing to make new ETH mining machines. pic.twitter.com/9tYm6zQEI2

— Colin Wu(Wu Blockchain) (@WuBlockchain) December 10, 2020

He further reiterated that new mining equipment is being developed for Ethereum, which will push the performance envelope of the previously known chips. However, the Chinese mining giant Bitmain is cautious in it’s approach, choosing small batch productions and more internal usage, than having a focus on commercialization.

Crypto Fees - Most Lucrative Mining Markets ethereum
Crypto Fees – Most Lucrative Mining Markets

The reason? Ethereum mining is currently a more lucrative market than even Bitcoin. According to Crypto Fees, Ethereum mining revenue is more than twice of Bitcoin. It means miners can generate heavy profits, even if for short term and then acquire further ETH tokens for the staking deposits. This ensures that even when POW comes to end, the miners would have generated enough profit to start another profitable endeavor.

Etherscan - Ethereum Network Hash Rate
Etherscan – Ethereum Network Hash Rate

The result? Ethereum network hash rate has been touching new highs lately, comparable only to the bull run phase of ’17-’18, because miners are aware that they have much to gain by contributing to the world’s most profitable blockchain network and the trend doesn’t appear to be slowing down anytime soon. The best part is that the network’s gas fees have been quite affordable lately and ranging from 30-50 Gwei, indicating that the fees isn’t being collected from overpriced transactions, but rather from the heightened economic activity on Ethereum.

  • share 
  • share 
  • share 
  • tweet 
  • share 
  • share 

It is super easy to buy Ethereum. Just take a look at our exchange comparison!

 

 

Follow us on Social Media and subscribe to our free crypto newsletter!

@Telegram
@Instagram
@Twitter 
@TikTok
@Facebook

Diskutiere mit uns!

About Trading @CT Trader
About Crypto in general @CT Inside

This post may contain promotional links that help us fund the site. When you click on the links, we receive a commission - but the prices do not change for you! :)

Disclaimer: The authors of this website may have invested in crypto currencies themselves. They are not financial advisors and only express their opinions. Anyone considering investing in crypto currencies should be well informed about these high-risk assets.

Trading with financial products, especially with CFDs involves a high level of risk and is therefore not suitable for security-conscious investors. CFDs are complex instruments and carry a high risk of losing money quickly through leverage. Be aware that most private Investors lose money, if they decide to trade CFDs. Any type of trading and speculation in financial products that can produce an unusually high return is also associated with increased risk to lose money. Note that past gains are no guarantee of positive results in the future. 

#Bitmain#Chinese miners#Ethereum mining



You might also like

Crypto

Bitmain IPO Document Unveils $500 Million Q3 Losses
February 19, 2019
Blockchain Companies Crypto

Will Jihan Wu Step Down as Bitmain CEO?
December 31, 2018
Crypto

Weekend in Review: SaveDroid Halts Smart Contract, South Korea on Blockchain, Japan Introduces Crypto-regulatory Updates.
August 13, 2018

More from Blockchain

Ethereum Nears ATH As CME Futures Approach, Here’s What Follows!
Posted On January 20, 2021 Taha Zafar 0

In a long awaited event, Ethereum is finally nearing it's previous all time high (ATH) figure of $1448 (CoinGecko data) …

What Is DeFi? – A Beginner’s Guide To 5 Core DeFi Protocols
Posted On January 19, 2021 Taha Zafar 0

Decentralized Finance (DeFi) protocols have come a long way from a few scattered vaguely known projects to multi-billion giants. …

Biden to Nominate Ex-MIT Blockchain Professor, Gary Gensler as Chairman of SEC
Posted On January 18, 2021 Santiago Burelli 0

As Trump finally concedes to Biden’s presidential win, Biden begins to enact his policies and nominate the future leaders of …

In order to support and motivate the CryptoTicker team, especially in times of Corona, to continue to deliver good content, we would like to ask you to donate a small amount. Independent journalism can only survive if we stick together as a society. Thank you


  • Top Broker

    Bybit
    bybit
    Review · Visit
    Plus500
    Plus500
    Review · Visit

    Top Exchanges

    Kraken
    Kraken
    Review
    Coinbase
    Coinbase
    Review · Visit
  • Newsletter subscription




  • News

    • Bitcoin News
    • Altcoin
    • Regulation
    • Blockchain Companies
    • Blockchain
    • Cryptocurrency Exchanges
  • News

    • Ethereum
    • Events Review
    • ICO News
    • Press Release
  • Education

    • CryptoTicker Starter Kit
    • Education
    • Blockchain For Dummies
    • Crypto entrepreneurs
    • Free Resources
    • Events
  • Cryptoticker

    • About us
    • Advertise
    • Media Kit
    • Submit your Press Release
    • Contact
    • Membership Login
  • Social Media












    Newsletter


  • Imprint
  • Privacy Policy
  • Non-liability Disclaimer
©2021 CryptoTicker

Share

Share stories you like to your friends