In order to expand the market as the computing power increases, Bitfury opens the sale of mining machines to small and medium-sized enterprises for the first time

Bitfury, a veteran mining machine manufacturer and blockchain technology company, has announced the prices of its equipment on its official website for the first time and has opened online hardware sales channels to small and medium-sized enterprises.

This is also the first time that Bitfury has opened its sales channels directly to small and medium-sized enterprises (or even individuals). For the mining machine market, Bitfury has always been "different in style", not only in the appearance of its mining machines. Before this, Bitfury's target users were limited to sales to large corporate customers, and its equipment prices only provided "on application" options. Therefore, for domestic miners, especially new miners, the awareness of Bitfury is far less than that of mining machine manufacturers such as Bitmain, Canaan Creative, and MicroBit (Shenma Mining Machine).

According to information from Bitfury’s official website, the online store currently offers six products, two of which are Bitfury B9 Tardis miners (80 TH/s, priced at $3,993 before tax) and Bitfury B8 Black miners (55TH/s, priced at $2,783 before tax), as well as two ASIC chips and two BlockBox AC mobile mining devices.

Previously, when the Bitfury Tardis mining machine was first launched, it was called an enterprise-level Bitcoin mining machine. In the entire mining machine profit ranking list, the Bitfury Tardis B8 is one of the mining machines with the largest single-machine computing power. Its mining profit ranks after the Whatsminer M20S and ranks fourth in the overall mining machine profit ranking list.

According to public information, Bitfury was founded in Russia in 2011. In the early days, it was an ASIC bitcoin mining chip R&D team. Now it has transformed into blockchain basic data services and transaction processing services. It has established management offices in San Francisco, Washington, D.C., Hong Kong, Amsterdam and London, and has established mining data centers in Canada, Norway, Iceland and the Republic of Georgia.

According to Odaily Planet Daily, in 2018, Bitfury launched the sixth-generation chip design Bitfury Clarke ASIC, an enterprise-level mining server Bitfury Tardis and a new generation of Bitcoin mining machine Bitfury Clarke. In September this year, Bitfury announced the application of immersion cooling technology, which is to immerse its mining equipment in a cooling liquid to reduce power consumption and thus reduce mining costs. In addition to the mining business, Bitfury has also opened up a variety of blockchain-based applications and services such as open source blockchain frameworks and digital currency address tracking technology.

The total network computing power has hit new highs recently. According to a previous report by Caijing.com Chain Finance, the total computing power of the Bitcoin network has recently exceeded its historical peak in October 2018, setting a new high. The highest single-day computing power once reached 95EH/s. According to the data from Biyin, the average computing power of Bitcoin in the past week reached 90.7EH/s, and the average computing power in the past three days reached 92.49EH/s.

With the surge in computing power, the difficulty of mining has also risen. According to BTC.com data, since June 14 this year, Bitcoin's computing power and difficulty have both jumped 60%. As of press time, after the latest difficulty adjustment, the difficulty of Bitcoin mining has reached 11.89 T, which has exceeded last year's historical peak of 7.454 T, up 37% from last year's highest value. There are still 7 days before the next difficulty adjustment. It is expected that the mining difficulty will increase by another 11.23%, or it will reach the 13T mark for the first time, reaching 13.23T.

Earlier analysis said that the current computing power has increased significantly. The additional 35 EH/s computing power since mid-June is mainly due to the launch of more than 600,000 new mining machines in the past three months. Major mining machine manufacturers such as Bitmain, Canaan Creative, InnoSilicon and MicroBT have successively produced and sold new mining machines in the past three months to seize the market, and TSMC has also received multiple orders from mining machine manufacturers to cope with the shortage of production capacity and the shortage of mining machines in the market.

With the surge in computing power, Bitfury is opening up online purchasing channels for small and medium-sized enterprises in an effort to further expand its market scope.

However, due to the limitations of its previous user positioning and the increasingly fierce competition in the mining machine industry, Bitfury’s current market recognition and competitive advantages may be suppressed by other mainstream mining machine manufacturers.

In addition, BitFury's ASIC mining chips are mainly manufactured using 16nm and 14nm process technology. As of press time, there is no news that BitFury's ASIC mining chips have plans to involve higher process technology. In comparison, mainstream mining chips have been upgraded to 7nm. Although the current Bitfury Tardis mining machine has a higher computing power per machine, its power consumption ratio is not advantageous and it may face further overtaking by new mining machines.

Author: Xi Xixi

Source: Caijing.com Chain Finance