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Updated Antminer E3 will be able to mine ETH and ETC until October 2020

Updated Antminer E3 will be able to mine ETH and ETC until October 2020

Mining company Bitmain has released a firmware update for Antminer E3, so they will continue to produce ETH and ETC until October 2020.

Earlier it was reported that in April, Antminer E3 models designed for mining ETH and ETC will no longer be relevant due to low energy efficiency and the inability to process large files of the directed acyclic graph (DAG).

According to the calculations of the 2miners mining pool, disabling these miners significantly affected the hashrate of the Ethereum Classic network. It should be noted that due to the fall in profitability of another model ASIC miners, Antminer S9, at the beginning of the month decreased network hash rate Bitcoin that has slowed the creation of units and increase commissions.

The updated software for Antminer E3 will solve the main problem with increasing DAG files by extending DDR memory usage and providing resources for Dag processing. As a result, these miners will retain opportunities for further production of ETH and ETC in the “foreseeable future”. According to Bitmain calculations, with the new firmware, the approximate height of the final block will be 11,400,000. This means that mining on Antminer E3 will continue until October 2020.

According to the analytical company TokenInsight, by the end of this year, Bitmain can increase its share in the mining industry from 55-58% to 63% after abandoning research in the field of artificial intelligence, which had a high cost and low profitability.