WDMS discusses sustainable and efficient BTC mining ahead of halving

On September 22, Bitmain rolled out its next-generation Antminer S21 and S21 Hydro ASIC miners at the World Digital Mining Summit (WDMS) in Hong Kong

By Shashank Bhardwaj

Published: Sep 25, 2023 09:10:38 PM IST

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Bitmain, the world’s leading manufacturer of digital currency mining, introduced its latest Antminer models, the S21 and S21 Hydro ASIC miners, at the World Digital Mining Summit (WDMS) in Hong Kong. This event served as a platform for Bitcoin miners to discuss strategies for improving productivity with a focus on sustainable practice.

The S21 boasts a hash rate of 200 TH/s and an efficiency of 17.5 J/T, while the S21 Hydro achieves 335 TH/s with an efficiency of 16 J/T. This is noteworthy because, until recently, most Bitcoin ASICS (Application Specific Integrated Circuit) consumed over 20 J/T. The next generation of Antminers will improve efficiency and reduce energy consumption for miners while increasing their profits.

Justin Kramer, founder of BMC, on the potential impact of the Antminer S21 rollout, said, “The S21, if reliable, fairly priced and readily available — and yes, that’s a lot of ifs with Bitmain’s history — could revolutionise the crypto mining landscape with its efficiency. It is basically packing the power of two S19 100T miners into one unit.”

When asked about what else caught his eye from the S21 release, Kramer noted, “It was a little surprising when I noticed that both new S21 models offer 33% more hash rate (S21 200T versus 151T on S19j XP; S21 hydro is 335T versus the S19 XP Hydro at 257T).”

Sustainable development became a focal point of numerous discussions at the WDMS event, particularly during the initial roundtable. Key figures from industry players such as Terrawulf, Core Scientific, CleanSpark, and Iris Energy shared valuable insights. These discussions emphasised the growing significance of incorporating renewable energy sources as a fundamental strategy for miners, especially in anticipation of the Bitcoin supply halving projected for April 2024.

Following the upcoming BTC halving, the miners will continue to face the same expenses for equipment and operations, along with the obligation to repay any outstanding debts. However, they will receive only half the rewards for mining blocks.

For this reason, miners will either need to raise the proportion of their hash rate from sustainable energy sources or make their ASIC machines more efficient. As a result, miners are increasingly prioritising the efficiency of ASICs. Many are also incorporating renewable energy into their operations.

Undoubtedly, Bitmain's launch of the Antminer S21 and S21 Hydro marks a notable advancement in Bitcoin mining. These state-of-the-art ASIC miners promise enhanced efficiency and reduced energy consumption. Moreover, the industry's increasing focus on sustainability and renewable energy sources underscores its commitment to a more environmentally responsible future.

However, it's essential to acknowledge the challenges that lie ahead. The crypto mining industry still grapples with issues related to accessibility and affordability, as well as concerns about the environmental impact of energy-intensive operations. As Bitcoin's supply halving approaches, miners face the dual challenge of maximising efficiency while navigating the changing economic landscape.

Nevertheless, the Antminer S21 series offers a promising solution, fostering both profitability and eco-consciousness. This transition aligns with the overarching aim of cultivating a responsible and robust cryptocurrency ecosystem.

The writer is the founder at yMedia. He ventured into crypto in 2013 and is an ETH maximalist. Twitter: @bhardwajshash