Mining Battle Before Halving – MicroBT, tough competition for Bitmain

Chinese mining hardware manufacturer, MicroBT launches three new high-end bitcoin ASIC miners and competes with Bitmain before halving. CEO Chen Jianbing announced that three new models – WhatsMiner M30S +, M30S ++ and M31S + are available through inventory and pre-orders. They can be delivered within 30 days. This step underscores MicroBT’s competitiveness in this billion-dollar market with its main rival Bitmain. Bitmain is ready to deliver the first batch of its latest models AntMiner S19 and S19 Pro in May.

MicroBT’s fast growth and effective warfare

In 2019, MicroBT sold 600,000 units of the WhatsMiner M20 series, which removed Bitmain’s long-term market dominance. MicroBT adds new models to the existing M30 product line. This includes the previously launched WhatsMiner M30S and M31S.

With the latest equipment from both major manufacturers, the bitcoin mining hardware market is now entering what Chen has called the “3X period”. Mining that is below 40 watts per terahash (W / T).

This metric has become significantly more important due to the approaching halving, which will reduce the amount of Bitcoins mined per day from 1800 to 900.

According to the company’s specifications, M30S + is able to count at 100 TH / s with an efficiency of 34 W / T, while M30S ++ can count up to 112 TH / s at 31 W / T. M31S ​​+ and earlier M31S provide 42 W / T efficiency. However, Chen said the new model has the option of switching to a low voltage mode with an efficiency below 40 W / T.

According to Bitmain specification, the AntMiner S19 and S19 Pro are capable of counting at 95 TH / s and 110 TH / s with an efficiency of 30 W / T and 34 W / T.

Pricing policy

Major manufacturers cut their mining equipment prices after the bitcoin price drop on March 12. Vincent Zhang, Head of MicroBT Sales, said the WhatsMiner M30S is now priced at $ 1,962, less than the original $ 2,500. The new M30S + and M30S ++ are priced at $ 2,740 and $ 3,899 USD.

Users who placed pre-orders at a higher price will be compensated, as with Bitmain, in cash coupons. They can be claimed up to 10% of the value of additional goods purchased from MicroBT.

Although MicroBT gained a large market share in 2019, it had problems supplying equipment on time. The company will now compensate customers in cash coupons worth 0.3% of the value of the pre-ordered machine for each day when delivery is delayed after the promised date.

MicroBT will extend its warranty period for the M30 Series to one year, which is longer than average six-month warranty in this industry.

You should be interested in: Lightning Network: Sending a single payment through multiple channels becomes a reality