The Dragonmint 16t’s Release: the End of the Bitmain Monopoly?

DragonMint - Bitcoin Mining. Source: Ebay.com
DragonMint - Bitcoin Mining. Source: Ebay.com

The DragonMint Miner 16T ASIC has just been released by Halong Mining. Given the pricing and technical specifications, this new technology might upend the world of Bitcoin mining by competing directly with the industry powerhouse and leader, Bitmain and its Antminer.

Is the Bitmain Monopoly Over?

The DragonMint 16T can deliver 16TH (Terahashes) and is expected to cost $1350. These features would let it compete with Bitmain’s Antimer S9, which, by comparison, only offers 14TH for a retail price of $1,415. The announcement sparked a lot of enthusiasm among miners. However, the information should be taken with a grain of salt until real-world studies on the profitability of this new miner are completed. If the DragonMint keeps all of its promises, it might be the end of Bitmain’s monopoly.

The official announcement from Halong Mining:

“The DragonMint 16T miner is the world’s most efficient bitcoin miner, mining faster and cooler than any competitors. It is the product of more than a year of research and development that has resulted in substantial breakthroughs in mining technology, including an entirely new generation of ASIC mining chips. The DM8575 ASIC works at 85GH per chip and has a power yield of about 0.075J/GH.»

Dragonmint – Source: Ebay.com

Bitcoin Becoming More Centralized?

Bitcoin could have been mined by anybody with a computer in its early days. With the growth in difficulty, ASICs or Bitcoin mining machines came into the game.

The introduction of ASICs has made Bitcoin mining more difficult for regular users and has resulted in a concentration of computer power utilized to protect the Bitcoin Blockchain. Bitmain’s dominance in the mining sector is undeniable, and history has proven that the corporation can have a significant effect on Bitcoin’s price.

Manufacturing these devices on a broad scale may prove to be a Herculean task for the corporation. It is unknown when the machines will be ready for shipment. It is critical that the Bitcoin mining sector does not become monopolistic, since this would violate the same principles that have allowed cryptocurrencies to exist.

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How much does a DragonMint T1 miner make?

The DragonMint T1 was introduced in April 2018, and it most likely has the highest hash rate among the devices analyzed in this list, at 16 Th/s. Given the equipment’s power efficiency of 0.093j/Gh, anticipate creating a profit of roughly $2.25 per day on average.

What is a DragonMint?

The DragonMint T1 is a bitcoin miner that operates at 16TH and includes AsicBoost technology for increased power efficiency. The power consumption at the wall with the DragonMint 1600W PSU and dual fans is 1480W @ 240V at 25°C ambient temperature. A variation of 8% is predicted. Antminer S9 is more efficient and powerful.

What is the most profitable Bitcoin miner?

For the time being, the Antminer S19 Pro is the most lucrative ASIC miner for Bitcoin and the SHA-256 algorithm. It is made by Bitmain, a major mining hardware manufacturing business, making it a popular choice among Bitcoin mining companies and individuals.

How many watts does DragonMint T1 use?

The DragonMint T1 is a bitcoin miner that operates at 16TH and includes AsicBoost technology for increased power efficiency. The power consumption at the wall with the DragonMint 1600W PSU and dual fans is 1480W @ 240V at 25°C ambient temperature. A variation of 8% is predicted. Antminer S9 is more efficient and powerful.

Is DragonMint T1 good?

Simply put, the DragonMint T1 has all the makings of a great miner that can provide its users with a wonderful return on investment (ROI).

What are the DragonMint T1 Specs?

>> Type: SHA256.
>> Hash power: 16TH.
>> Network: Ethernet port.
>> Miner power consumption: 1205W ±6%
>> Chip efficiency: 0.075J/GH ±6%
>> Fans: dual fan variable 6000rpm (100W)
>> Power Supply: Not included.

What is the weight of the DragonMint T1?

Weight: 6000g
Size: 125 x 155 x 340mm

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