Hey ninja’s, how’s the trading going? A significant number of Bitcoin mining firms have been shutting down due to unprofitability but this is not the case for Bitmain. The Chinese mining giant has not only sold out its new products but is also upgrading its older devices. According to a blog post published on the 30th of March, Bitmains has launched a new firmware that will prolong the lifespan of the Antminer E3’s.
The Antminer E3 was designed to mine Ethereum and Ethereum Classic and was expected to stop mining by April 2020. News of the alleged lifespan of the hardware was discovered with calculations made by altcoin mining pool 2Miners.
The calculations highlighted the recent drop in hash rate output of the mining rigs on the Ethereum Classic network, the drop in hash rate output suggested that the rigs were approaching the end of their lifespan.
The new firmware was launched to ensure that efficient mining for the Etherum Classic community, the problem of the Antminer E3 Directed Acyclic Graph (DAG) files was first reported sometime in February 2020 by altcoin mining pool 2Miners. The firmware was reportedly designed to better support the Antminer E3 and prolong its lifespan until sometime in October 2020.