Is there an asic miner for ethereum?

The Bitmain Antminer E9 is the world's most powerful Ethereum mining ASIC. Bitmain has launched a new ASIC tailor-made for Ethereum. The reason there are no mining ASICs for Ethereum is the fact that Ethereum's mining algorithm has been designed from the ground up to be resistant to ASICs. Ethereum, like other so-called ASIC-resistant blockchains that use a hashing algorithm different from Bitcoin's SHA-256, is supposed to reject ASIC hashes, which are designed to produce hashes for mining purposes only, and serve no other computing function (such as graphics for games.

Bitmain released a video about the new Antminer E9, which claims it will do the job of 32 graphics cards (GPUs), the expensive processors often coveted by PC gamers and also used by miners to mine ether and other currencies. However, the Ethereum network is not entirely immune to ASIC miners, at least in its current state. In addition to a suitable GPU, you also need an Ethereum software miner and the geth command-line interface (available for Linux, macOS and Windows) to control it. The move comes amid rising revenues from Ethereum mining, which has already driven up prices for both general-purpose graphics processing units (GPUs) and ASIC mining equipment.

Instead, it has started an intense debate in the community about the pros and cons of allowing ASIC miners into the Ethereum ecosystem. As the experience with bitcoin has shown, the affordability of ASIC equipment is an incentive for entrepreneurs to create large mining farms that offer the ability to control the future development of cryptocurrencies. Starting in July, ASIC mining company Bitmain will launch a model that can be used specifically to mine the cryptocurrency ethereum. Once ASIC devices become available to ethereum miners, ethereum developers are concerned that they will negatively affect the very essence of ether as a cryptocurrency.

As a result, the network will abandon the proof-of-work consensus algorithm, leaving Ether (ETH) miners with very few options. ASIC devices have been used to mine other cryptocurrencies such as bitcoin and litecoin for some time. For example, ethereum's core developer, Piper Merriam, has proposed a code change to make ethereum's algorithms less effective on ASIC miners. One is to sell the equipment and use that money to accumulate more ETH and start staking, while the other option, which is available exclusively to GPU miners, is to simply switch to other Ethash networks and mine altcoins.

A miner is rewarded because the process of verifying cryptocurrency transactions consumes a lot of electricity, which can cause the electricity bill to rise considerably. The price of an ASIC miner usually reflects the speed with which it can process the complex problems used to verify digital cryptocurrency transactions.

David Gerula
David Gerula

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