Cryptocurrency mining companies, which are trying to survive in the increasingly competitive environment in the crypto industry, continue their work without slowing down. Mining hardware manufacturer Bitmain is starting to sell the new AntMiner E9. In addition, according to the statement made by the company; The new Ethereum mining machine will offer a hash rate of 2,400 megahashes per second (MH/s).
"#BITMAIN announces #ANTMINERE9, equipped with a hashrate of 2400M, 1920W power consumption, and power efficiency of 0.8J/M, utilizing the Ethash algorithm for ETH/ETC. E9 is equivalent to 25 RTX 3080 graphics cards. Sales start on July 6, 9:00 AM (ET). https://shop.bitmain.com"
In addition, the company said on Twitter that the new Ethereum mining device has a hash rate of 2,400M, a power consumption of 1,920 watts, and a power efficiency of 0.8 joules per minute.
To elaborate, this new mining machine was announced about a year ago at a time when ETH mining revenues were on the rise. The launch comes despite Ethereum's transition from a Proof of Work system to a Proof of Stake system, which is expected to happen later this year. Finally, to remind you that Ethereum (ETH) miners earned 27.2 percent less revenue in May compared to the previous month.
Ethereum price settled above the $1,100 region. ETH is currently consolidating in a band near the $1,100 level and is down almost 3% in a day and 2% in a week. The first hurdle on the upside is near the $1,150 level. The next major resistance is near $1,180, above which the price could start a decent increase. If there is a downside break and close below $1,100, the price could test $1,060. The next major support is near $1,000, below which the price could decline further.