MicroBT Has Got Expanded Market Share

MicroBT Has Got Expanded Market Share

Reportedly, MicroBT, which produces the WhatsMiner line of cryptocurrency mining equipment, sold about 600,000 units of its flagship WhatsMiner M20 series last year. It is expected that the newly delivered 600,000 units may have contributed over 30 exahashes (EH/s) of hashing power to the bitcoin network in 2019. The computing power got doubled at the time of the bitcoin’s price jump throughout 2019 is expected to be the result of equipment delivered by MicroBT. The firm might have brought home a high revenue in U.S. dollars for 2019 as the firm’s various models in its M20 product line are generally priced between $24 to $30 per terahash. The current computing power of Bitcoin stands at 110 EH/s and MicroBT is one of the largest and fastest-growing miner makers in the world.

Increase in hash rate

Bitmain’s dominance of sold bitcoin hash rate came down from 75 to 65 percent at the time in 2018. But then its bitcoin’s computing power has since then grown by yet another 20 percent. According to another report, 20 percent of bitcoin computing power sold for the first six months of 2019 and full year report is yet to be published. So, according to this data it can be said that Bitmain’s mining equipment still dominates the market. On the basis of an IPO filing by Bitmain, the firm delivered about 500,000 bitcoin miners in 2015 and 2016, and further sold 3 million units from the beginning of 2017 to June 30, 2018 amid the crypto market’s Bull Run.

Halving looms and impact of coronavirus

S9s, still most widely used miners, is a risk as next bitcoin’s halving will reduce bitcoin’s mining rewards from 12.5 bitcoin per block to 6.25. And reportedly, mining farms have been procuring the latest and most powerful miners to expand their facilities for the upcoming halving. Bearing the issue of halving in mind, the AntMiner S19 and WhatsMiner M30 are racing to deliver more powerful machines in 2020. A piece of news has been spread recently that due to the outbreak of coronavirus, China delays manufacturing and logistics, bitcoin’s computing power growth has stabilized for the time being.  Reportedly, MicroBT has resumed its production. Recently, part of the logistics has gone back to work.

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