Bitcoin mining firm Bitmain has officially launched the Antminer T21, their latest air-cooled Bitcoin miner. The announcement was made today, October 26, on X. The Antminer T21 is designed to withstand high temperatures of up to 45 degrees Celsius and is expected to ship in January 2024.
Improved Energy Efficiency and Performance
The Antminer T21 boasts an impressive energy efficiency ratio of 19 joules of energy efficiency per terahash (J/TH) and a processing power of 190 terahashes per second (TH/s). Compared to its predecessor, the Bitcoin Miner S21 Hyd, which offers 16.0 J/TH, the Antminer T21 provides greater energy efficiency per terahash. It is also compatible with the SHA256 mining algorithm, used for mining popular proof-of-work cryptocurrencies like Bitcoin, Bitcoin Cash, and Bitcoin SV (BSV).
According to Bitmain’s head of marketing, Xmei Lin, the Antminer T21’s global launch took place at the Blockchain Life 2023 Forum in Dubai.
Additionally, Bitmain is offering a Price Protection Plan for pre-order buyers of the Antminer T21. This plan is designed to protect miners in case of a decrease in cryptocurrency values. Customers who purchase before November 25, 2023, will be shielded from downside fluctuations in the price of Bitcoin for one, three, or six months. Compensation will be provided if the price drops below the strike on any reference day during the protected period.
Bitmain’s Journey and Recent Challenges
Bitmain was established in Beijing, China in 2013 and quickly became a prominent global producer of Bitcoin mining ASICs. However, the company faced internal struggles between its co-founders, Wu Jihan and Ketuan Zhan, which resulted in a setback. In 2021, a resolution was reached, and Wu agreed to step down from his roles as chairman and CEO, selling his ownership share to Zhan for $600 million.
Despite its success, there have been concerns about the well-being of Bitmain’s employees. The company faced financial challenges in September 2023, leading to the delay of salary disbursements and deductions in performance-based wages.
According to multiple employees, Bitmain issued a notification stating that its operational cash flow was negative in September. This situation was exacerbated by underperforming mining machines in their mines. As a result, salary disbursements were delayed, and a portion of employees’ wages, including basic wages and performance-based wages, were withheld. The specific timeline for the release of these wages and year-end bonuses for 2022 remains uncertain.
