Bitmain will release mining devices for Aleo

Mining hardware manufacturer Bitmain plans to introduce Antminer rigs for the privacy-focused Aleo blockchain based on zero-knowledge proofs.

The company announced its intention to “help prosper” the network ecosystem, but did not disclose the timing of the release of miners.

The Aleo blockchain is currently operating in testnet mode. In February 2022, the project raised $200 million in a Series B funding round.

“Bitmain will continue to adhere to the vision of making “humanity’s digital world a better place,” working with customers on a “mutually beneficial, long-term and loyal basis” to build a more prosperous and transparent PoW space,” the Chinese firm said in a statement.

In September, the company introduced the previously announced new generation Bitcoin miner Antminer S21. The device provides an energy efficiency of 17.5 J/TH - the best on the market.

At the beginning of October, the Australian Iris Energy announced the purchase of 7,000 units of Antminer S21 from Bitmain for $19.6 million - $14 per TH/s. The manufacturer provided the company with an annual deferred payment of $2.9 million.

In the same month, the American cryptocurrency mining company CleanSpark announced plans to acquire new mining devices from Bitmain with a total hashrate of 4.4 EH/s. Equipment deliveries will begin in January 2024.

Analyst Jaran Mellerud called it “crazy” that miners are in no hurry to take advantage of the opportunity to pre-order rigs at such a favorable price of $14 per TH/s.

Some commentators suggested that industry participants want to ensure the reliability of the equipment, keeping in mind the problems of the S17 series.

“Not a very low price, and it's always too expensive when it doesn't work. I'm not crazy, as you put it. It is precisely because I am reasonable that I understand colleagues who, having been burned by milk, are blowing water,” wrote Big Block CEO Seb Gospillow.

According to the Hashrate Index, market quotes for Bitcoin miners with energy consumption below 25 J/TH are at $13.14 per TH/s.