Bitmain S19 series starts shipping, Huawei incident has little impact

Several miners revealed to Wu Blockchain that Bitmain’s latest Antminer S19 has begun to be shipped and has just arrived at major mining farms.

On March 23, S19 was first sold on Bitmain's official website and sold out in 2 minutes. This was also the first time that the price of S19 was announced. The price of S19 Pro 110T is RMB 20,770, and the price of S19 95T is RMB 15,495. The delivery time is from May 11, 2020 to May 20, 2020. The power consumption ratio of S19 Pro broke through 30J/TH for the first time in the industry, and S19 is 34.5J/TH. Currently, the main shipment is S19.

The competitor Shenma M30 series was shipped about a month earlier, with a power consumption ratio of 38J/TH. Miners reported that the power supply problem of M20, which was criticized by miners, seems to have been basically fixed.

Currently, only futures are available for sale for the S19 and M30 series. Bitmain's official website lists the delivery date for the S19 series as August. Wu said blockchain once disclosed that Bitmain's revenue in the first four months exceeded $300 million, indicating that the sales of mining machines are doing well.

Miners told Wu Blockchain that judging from the feedback from SEG in Huaqiangbei, where the mining industry is most concentrated, the current production capacity of the S19 series should be more sufficient than that of the M30 series. However, there are also claims that most of the early production capacity of the M30 series was sold abroad because there was not much production capacity left for the domestic market.

Bitmain's Antminer uses TSMC's 7nm chips. Recently, there have been reports that TSMC is trying to persuade all parties to give up production capacity to TSMC because of the increased sanctions imposed by the United States on Huawei. The outside world is skeptical about whether Bitmain will be affected.

Supply chain sources revealed that because it is not a bull market at present, Bitmain accounts for a very small proportion of TSMC's production capacity, so it will not be greatly affected. In addition, if Huawei withdraws in the future, TSMC's 7nm and 5nm production capacity will become particularly loose, which is beneficial to the supply of mining machine capacity when the bull market arrives.

Since TSMC's 7nm production capacity is only supplied to Antminer, Samsung's already insufficient 8nm production capacity needs to be supplied to multiple companies such as Shenma, Canaan, and Xindong, so mining machine manufacturers using Samsung may also face the problem of insufficient production capacity. Canaan's first quarter financial report stated that it has mass-produced and shipped tens of thousands of products based on Samsung's 8nm process chips.

Ultimately, the fundamental factor affecting the sales of mining machines is the price of coins. At the current price of coins, it is difficult for mining machine manufacturers to obtain higher profits. During the flood season in Sichuan, there was a rare situation where there was more electricity than machines. Therefore, refined operations may be the idea of ​​major mining machine manufacturers.

However, due to the poor quality of the T17 series launched by Zhan Ketuan in 2019 and the recent frequent problems, miners are also concerned about the quality of the Antminer 19 series. The stability of the specific product needs to be disclosed later and the feedback from miners will be seen after operation. Wu said that he will continue to pay attention.