Public statements from Hut 8 and Bitmain, industry reports

Hut 8 and Bitmain Partner to Launch Next-Gen ASIC Miner as Bitcoin Hashrate Dips 69 EH/s

Sep 19, 2024, 06:34 PM

Bitcoin miners are facing economic challenges as the Bitcoin hashrate dips by 69 EH/s. Amid these hurdles, Hut 8 and Bitmain have announced a partnership to launch the new ASIC miner U3S21EXPH, featuring direct liquid-to-chip cooling technology. This next-gen miner is expected to boost the hash rate by 80%, bringing it up to 33.5 EH/s by mid-2025. The collaboration marks a significant advancement in the mass-commercialization of mining equipment. However, miners are still grappling with dropping revenues post-halving, with only 1.6% of their revenue coming from transaction fees, highlighting a fee drought.