On the first day of Bitcoin 2022, the annual grand celebration of the blockchain industry, the ASIC miner manufacturer LOYALTECH received multiple orders from North American customers, indicating that the Ethereum mining industry is migrating from GPU mining to ASIC mining.
Due to the cryptographic protocols of Ethereum, Ethereum miners have been using GPU machines to mine Ethereum for many years. However, as ASIC mining machine chips break through the challenging bottleneck of data transmission bandwidth, ASIC mining machines have gradually occupied the top spots of the Ethereum mining hashrate rankings since last year. Among them, the YM-100 mining machine produced by LOYALTECH has continued to stay in first place in the energy supply ratio in the past six months, and its energy supply and hashrate ratio (1.0w/M) is twice higher than that of the high-end GPU miners (3w/M). Besides, the daily income of YM-100 is more than 3 times that of GPU miners
YM-100 Series
As a matter of fact, the cryptocurrency market has entered the so-called bear market in 2022, and the price of Ethereum ASIC mining machines has generally dropped by half or more than its peak. Thus, many miners finally realize that if they replace their GPU mining machines with ASIC mining machines, then they can obtain 30%-50% higher daily income, which has led to a rapid increase in the prevalence of ASIC mining machines. Various manufacturers have received a lot of purchase inquiries and orders, many of which come from large mining rigs.
However, most of the top ASIC mining machine manufacturers are wrestling with the industry-wide supply chain crisis, and it is difficult to ensure the supply capacity of their mining machines. This status quo hence has created valuable opportunities for LOYALTECH- the company has chosen the mature 40nm process to manufacture mining machine chips and has solved several key component supply difficulties faced by other competitors, thus the out-of-stock situation is perfectly avoided.
One mining rig that’d like to remain anonymous here said that the first 100 mining machines they purchased from LOYALTECH were all delivered in just 65 hours in Hong Kong, which far exceeded their expectations.
“Today, the spot itself can be a huge advantage,” said the head of procurement from the mining rig. “We are replacing GPU miners with ASIC miners to earn higher daily returns, but such a profit scheme can only be feasible if the machines are delivered on time.”
LOYALTECH ‘s reliable supply has won them huge orders. On the first day of Bitcoin 2022, the company received purchase inquiries valued at hundreds of millions of dollars from North American buyers.
James Wang, a blockchain industry analyst mentioned: “Miners are rushing to purchase machines from LOYALTECH, hoping to get the mining machine promptly to obtain higher profits than the GPU machines. Also, it is worth noting that LOYALTECH’s machines are also compatible with ETC mining, providing miners with longer-term income guarantees. Even if Ethereum mining becomes unprofitable in a few months, miners can still have stable returns in ETC. “
In the market full of uncertainty before the official launch of the Ethereum 2.0 upgrade, miners preferably regard LOYALTECH mining machines as an effective tool to hedge risks and ensure returns. Undoubtedly, the bulk order at Bitcoin 2022 is just the beginning, let’s stay tuned.
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