Bitcoin miners facing chip shortage amid skyrocketing demand
Bitcoin miners are scrambling to acquire more mining rigs as the global semiconductor shortage worsens. A chip shortage is significantly affecting the Bitcoin mining hardware distribution chain, according to Reuters on Jan. 22, Indeed, Bitmain — one of the major Bitcoin miner makers — has seen its inventory sold out until August 2021, according to information on its website. Apart from being out of stock, Bitmain’s mining rigs are now at a massive price premium.For instance, back in November 2020, the Antminer S19 shipped for $1,897 a unit. As of the time of writing, the same miner is....
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Fears of a major semiconductor chip shortage have started to make headlines again as the chips power nearly everything from new cars, phones, computers, and a myriad of other items. Reports stemming from Malaysia show that semiconductor manufacturers are dealing with an uptick in Covid-19 cases and this is plaguing the supply chain. Moreover, the machines that secure the Bitcoin network are also powered by these chips, and semiconductor prices might increase by over 20% in the near future. Semiconductor Shortage Could Cause a 10-20% Rise in Chip Costs On August 24, the well known German....
Baidu is reportedly planning to commercialize its chip technology by setting up a dedicated subsidiary backed by crypto-friendly venture capital firms. A global chip shortage is affecting various sectors of industry from gaming to automotive and cryptocurrency mining.Amid Bitcoin's (BTC) ongoing bull run, the crypto mining industry became massively profitable. Many miners started aggressively stacking mining hardware —by sometimes unconventional methods— which led to shortages in other sectors.The COVID-19 fueled surge in gaming consoles, computers and TVs has even had knock-on effects for....
What are the causes of the global chip shortage, how severe is it and is there any impact on the Bitcoin ecosystem?
BW, one of the world’s leading Bitcoin mining hardware manufacturers, have posted an update regarding the status of their 14nm mining chip. As mining chips become smaller, they should consume less energy each while offering the same – or more – hashing power. So far, it seems BW has sold out their first batch of miners already, which is a positive sign for things to come. The BW 14nm Bitcoin Mining Chip. There has been a lot of interest for this new BW Bitcoin mining chip by the look of things, as there is a bigger demand than supply for the time being. For companies such as BW, this is a....
Kazakhstan is facing electricity shortages and cryptocurrency mining has been singled out as the main culprit. Amid an ongoing crackdown in China, the Central Asian nation has become a magnet for crypto miners who are taking advantage of its low electricity rates. Republic of Kazakhstan Sees 7% Increase in Electricity Demand Due to Crypto Miners Kazakhstan plans to boost its power generating capacities in the coming years but right now the country is experiencing electricity shortages. In 2021, consumption has surged by 7% in comparison with last year, a government official revealed at a....