Blockcstream May Buy Mining Equipment From Innosilicon

Total capacity of the hypothetical mining center by Blockstream can reach 80 PH / s.
01 August 2018   578

Blockstream, has imported a large number of mining devices from Innosilicon, China to the United States. Four containers containing 62 trays labeled "TI" were shipped from Hong Kong and arrived on July 26, 2018 at the port of Newark, New Jersey. This is written by Bitcoin.com.

The inscription "TI", most likely, stands for "Terminator from Innosilicon" - ASIC-device for SHA-256 algorithm mining, the latest version of which is sold for 1 118$. If there are 72 mining devices on each of these pallets, it means that Blockstream has in total bought 4,650 "terminators" with a total value of 5.2 million dollars. The company has not yet reported that it plans to open a new mining center, but such a large order hints at a similar development of events. The standard hashrate of terminator is 17.2 TH / s, so the total capacity of the hypothetical mining center can reach 80 PH / s.

Blockstream was founded by Adam Beck, who is still its CEO, Gregory Maxwell, Peter Vulle and others in 2014. It is known mainly for developing practical applications for the Lightning Network.

Innosilicon is, according to the description on the company's website, a manufacturer of low-cost, high-performance and fully customized solutions. The company produces devices like tablets, mobile phones, televisions, cameras, network equipment and so on.

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   121

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.