Ethereum ASIC Has Performance of 8 GTX 1080s for $800

rgMekanic

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ASIC hardware manufacturer Bitmain has released its ASIC for Ethash according to an article last week from HotHardware. Two weeks ago we wrote how Bitmain was planning to roll out an ASIC for Ethereum, and the impact that the rumor had on AMD stock. The new Antminer E3 is available for pre-order now on Bitmain's website for $800 with a limit of 5 per user, and does not come with a PSU. What it does come with is a hashrate of 180MH/s, equivalent to 7 or 8 GTX 1080s and a power consumption of 800w.

I love the fact that Bitmain does not accept Bitcoin as a form of payment. Maybe this will be the final of what has been a series of nails in the coffin of GPU based mining. Thanks to WhoBeDaPlaya for the story.

"These are the conservative estimates. We expect the miners to deliver higher performance and efficiency when they are ready to ship," Bitmain says.
 

Bigdady92

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This has been a known idea for YEARS. ASICS are vastly better than video cards but not as widely available.
 

serial__thrilla

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ASIC hardware manufacturer Bitmain has released its ASIC for Ethash according to an article last week from HotHardware. Two weeks ago we wrote how Bitmain was planning to roll out an ASIC for Ethereum, and the impact that the rumor had on AMD stock. The new Antminer E3 is available for pre-order now on Bitmain's website for $800 with a limit of 5 per user, and does not come with a PSU. What it does come with is a hashrate of 180MH/s, equivalent to 7 or 8 GTX 1080s and a power consumption of 800w.

I love the fact that Bitmain does not accept Bitcoin as a form of payment. Maybe this will be the final of what has been a series of nails in the coffin of GPU based mining. Thanks to WhoBeDaPlaya for the story.

"These are the conservative estimates. We expect the miners to deliver higher performance and efficiency when they are ready to ship," Bitmain says.
No, they accept a much-shilled crypto called BitcoinCash, which has a pretty long story of conspiracy behind it. I also heard that, apparently, Bitmain want to build mining factories here, in the US, which is effing absurd. But no, crypto is not going anywhere, and GPU mining will not die out as fast as some, apparently, hope.
 

serial__thrilla

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It's misleading (but not surprising) that they picked one of the lousier Nvidia cards for Ethereum as a comparison.
Geforce 1080 and 1080TI (and the Titan) can mine anything based on the ethash algo faster than anything else, as it's highly VRAM speed dependent, so meh, whatevs, they just wanted to show the numbers.
 

serial__thrilla

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Also, the developers of the Ethereum algo can reprogram it ever so slightly, and all these shitty ASICS will become expensive doorstops, because they are hard-coded to process the algo in a very specific way, so that, to be able to mine the new algo again, Bitmain will have to produce all new hardware.
 

oROEchimaru

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better for the environment to, and looks less scammy than other ASIC(s)... however what if they change the algorithm then is it worthless?

If these things were flashable they would make it rain
 

viper1152012

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But imagine the aftermath with all the hard mined cards entering the used market.

I certainly wouldn't want a card that was mined on.

Would be nice to see the new pricescome down
 

Archaea

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Also, the developers of the Ethereum algo can reprogram it ever so slightly, and all these shitty ASICS will become expensive doorstops, because they are hard-coded to process the algo in a very specific way, so that, to be able to mine the new algo again, Bitmain will have to produce all new hardware.
or release a firmware update that foils their hardfork (and all the work and time spent for ethereum operators to fork) -- since this E3 isn't a traditional asic, and instead uses 32GB of DDR3 RAM and can likely be reprogrammed for any minor algo change.
 

Wolf-R1

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Yeah, isn't the hash rate on a RX 570 around 30 MH/s?

Not with the current DAG size. My 8GB 580 is doing just under 21Mh/s where my 1080 is doing just under 22Mh/s and my 1080Ti is doing just under 32Mh/s.
 

SLee

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Yeah, isn't the hash rate on a RX 570 around 30 MH/s?

Not with the current DAG size. My 8GB 580 is doing just under 21Mh/s where my 1080 is doing just under 22Mh/s and my 1080Ti is doing just under 32Mh/s.

With newer AMD drivers, such as the blockchain beta (which fixed issues related to the DAG size), and tuning of the memory timings, the 570 should be close to 30 Mhash/s.
 

serial__thrilla

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Not with the current DAG size. My 8GB 580 is doing just under 21Mh/s where my 1080 is doing just under 22Mh/s and my 1080Ti is doing just under 32Mh/s.
My 480s do 30 MH/s and my one 580 does 35 MH/s. But I believe I flashed the BIOS a certain way, to enable super-tight VRAM timings on them. I run them underclocked on core, and at -20% power limit, so it's as if I lit so many 80-90 Watt lightbulbs.

Oh, right, and, of course, everything runs on the blockchain AMD drivers, way back from when.
 

Keljian

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No, this will not stop gpu mining. If you’re mining ethereum with a 1080 or Vega you’re doing it wrong.
 

SLee

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Geforce 1080 and 1080TI (and the Titan) can mine anything based on the ethash algo faster than anything else, as it's highly VRAM speed dependent, so meh, whatevs, they just wanted to show the numbers.
The 1080 Ti is the fastest consumer Nvidia card for Ethereum, but the GTX 1080 is noticeably behind the 1070. Also, due to relative strengths and weaknesses of the Pascal architecture, people with the 1080 (and the Ti) are probably mining other coins which are more profitable, such as the Equihash based coins like ZenCash.
 

Archaea

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I love the fact that Bitmain does not accept Bitcoin as a form of payment.

Bitmain pushes BCH (bitcoin cash) which is a Bitcoin fork pushed by Roger Ver (a notorious personality in the crypto space - oftentimes with negative association).

They only accept BCH or USD Wiretransfer because that props up the coin (Bitcoin Cash) that Bitmain is pushing to succeed. Bitmain mines plenty of BTC (Bitcoin) and BCH - so don't think they only care about BCH - but they want BCH to replace BTC. Their acceptance of only BCH makes people trade other cryptos for BCH to buy their miners --- which then activity in BCH also raises value of BCH. I've read that Bitmain is pretty much single handedly keeping BCH in the top tier of coins. When you best Nvidia's quarterly sales volume with your Asics like Bitmain does - accepting only one type of Crypto (in the Crypto space) certainly means you'll have an affect on the crypto's value. Several times in the past they wouldn't even accept USD wire transfer - ONLY BCH.
When I bought my A3 that was the case - I had to buy some BCH directly, and even trade some BTC to get more BCH to buy the A3.

Bitmain can also work to time the low value point of BCH with their product releases. Meaning the customer has to pay more BCH for their product, which then means Bitmain is holding more BCH when the market rises again. (it's another way to manipulate their profits on their asics)

They'll also (and this is right in their purchase agreement you have to accept when you buy it) --- make you pay up the difference if you buy a product cheaper at launch in BCH than when the product ships two months later. But if you paid more than the product is worth when it ships - then they keep the delta. To illustrate this - I was looking at buying an S9 in December. It was to ship in Feb. I had to pay x BCH worth $3,000 USD in December to secure the order. IF BCH rose in value by feb. I wouldn't get refunded the difference relative to USD. If BCH fell significantly in value by Feb shipping date (relative to the $3000 USD) I'd have to pay the extra to secure my purchase. (or you could request a refund which from all accounts takes months on top of the couple months you've already waited for the order to ship - so Bitmain keeps your money for 4-6 months if you decline to send them the delta at shipping time).
 

serial__thrilla

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The 1080 Ti is the fastest consumer Nvidia card for Ethereum, but the GTX 1080 is noticeably behind the 1070. Also, due to relative strengths and weaknesses of the Pascal architecture, people with the 1080 (and the Ti) are probably mining other coins which are more profitable, such as the Equihash based coins like ZenCash.
Yeah, that's basically correct, if you have nVidia cards, you should not be mining Ethash algo-based coins.
 

serial__thrilla

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What Archaea said, and, Roger Ver and even more so, Bitmain, couldn't give a crap about specific coins other than BCH, it's all about the profit for them, and about screwing everyone else. They are the enemy.
 
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Not with the current DAG size. My 8GB 580 is doing just under 21Mh/s where my 1080 is doing just under 22Mh/s and my 1080Ti is doing just under 32Mh/s.
Not sure if trolling or what

Easily get 27MH/s with 470/570 and can break over 30MH/s with some of the 580s if you want to tune each of them. I just used generic settings rather than risking a crash and diagnosing 1 of 12 cards but still around 28.5MH/s

1080 is a steaming pile of turd is what it is, 1070 will do 30MH/s

VEGA will do 40+ MH/s


Completely different subject.

Resale of video cards can get some money back in a crash...a dedicated miner is going to be much harder to sell
 

DukenukemX

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This has been a known idea for YEARS. ASICS are vastly better than video cards but not as widely available.
ASICs takes time to develop. This is what happened to Bitcoin years ago when a R9 290 was the shit for mining. But then ASICs were produced and are superior to a graphics card. Etherium restarted this mining shit and was extremely dependent on GPU's. But an ASIC can be made. It's all about the market watching to see if a ASIC is worth developing for.
 

IcePickFreak

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This will be interesting to watch. A Chinese company and a crazy market like that, how long before the shady shit starts going down.
 

Imhotep

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That Bitmain Eth . miner is going to be useless sooner than it is available. ETH devs are considering a fork or algo mod to stop it. This is at least what the general public is being told. Monero just did a hard fork rendering all of the bitmain miners expensive paper weight.
By the way all my Vega cards do 44 in eth.
1070's 30, 1080 Ti 36 no mods with about 1 % stale shares.. All of my 580 do 30+ with modded memory timings that anyone can do in about 3 min.
Don't get your hopes up. mining is not going anywhere and the buy back will start when all of the Exchanges are done filing taxes, so in a couple of days the prices are going to slowly go up on most major coins. :D
 

collegeboy69us

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"Ready to ship" = after we're done mining with them, ourselves. I wonder what that hash rate is going to be once they're finally in the hands of customers.

I've been a long time miner and fan of crypto and this is exactly the reason why I've never given a single crap about ASIC machines. For me it's a hobby but this sort of thing has been around since asic's first appeared. "pre order" means exactly what you said, whatever the end user buys has already been finished and been mining along solid for the past month or three. Unless you are in the absolute first release batch there's not much point to buying one.

After network difficulty has been jacked up and they have a load of "free" coins they sell to Joe Blow for big bucks with juuuuuust enough profitability left to make him want it. Depending on if the coin/algorithm forks, you might be left with an expensive/loud paperweight too.

I always get a kick though out of the people who don't really understand crypto or the mining world... they think products like this are going to solve the GPU crisis.... friendly tip: it won't .
 
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