Crypto News

Bitmain Unveils Antminer T21: Air-Cooled Miner with Enhanced Efficiency

Bitmain Launches Antminer T21: An Air-Cooled Bitcoin Miner

Bitcoin mining giant Bitmain has officially introduced the Antminer T21, a new air-cooled Bitcoin mining device. The company made the announcement on October 26.

Enhanced Cooling and Shipping Date

The Antminer T21, designed for air-cooling, can withstand temperatures as high as 45 degrees Celsius. This innovative mining equipment is set to be shipped in January 2024.

Impressive Energy Efficiency

The Antminer T21 boasts a remarkable energy efficiency ratio of 19 joules per terahash (J/TH) and a processing power of 190 terahashes per second (TH/s).

Compared to its predecessor, the Bitcoin Miner S21 Hyd, the Antminer T21 offers a higher level of energy efficiency, with 16.0 J/TH.

Compatibility with SHA256 Algorithm

This air-cooled miner is compatible with the SHA256 mining algorithm, used for mining proof-of-work (PoW) cryptocurrencies, including Bitcoin, Bitcoin Cash, and Bitcoin SV (BSV).

Launch at Blockchain Life 2023 Forum

Bitmain’s Head of Marketing, Xmei Lin, revealed that the global launch of the Antminer T21 took place during the Blockchain Life 2023 Forum in Dubai.

Bitmain’s Price Protection Plan

Bitmain has introduced a Price Protection Plan for pre-order buyers of the Antminer T21. This plan is designed to assist miners in the event of cryptocurrency price drops.

Available until November 25, 2023, the Protection Plan offers safeguarding against price declines in Bitcoin for one, three, or six months. Customers will receive monetary compensation if Bitcoin’s price falls below the specified threshold during the protected period. Bitmain promises immediate compensation upon the triggering event.

Bitmain’s History and Recent Developments

Bitmain, founded in Beijing, China, in 2013, is globally recognized as a leading producer of Bitcoin mining ASICs.

Despite its historical success, the company faced internal strife, including a power struggle between co-founders Wu Jihan and Ketuan Zhan. In 2021, a resolution was reached in the year-long ownership dispute, leading to Wu stepping down and selling his ownership share to Zhan for $600 million.

Employee Salaries and Concerns

Bitmain’s financial challenges have extended to its employees. Reports confirmed that the company issued notifications indicating negative operational cash flow in September 2023.

The company attributed this situation to the underperformance of its mining machines. Consequently, Bitmain delayed the payment of a portion of its employees’ September salaries, contingent on the circumstances at that time.

Employees also disclosed that their performance-based wages for September were not only withheld but subject to deductions for half of their basic wages. The timeline for releasing the withheld wages and year-end bonuses for 2022 remains uncertain. As of October 8, employees had not received these outstanding payments.

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