MicroBT reveals M70 Series as Bitcoin hash rate reaches record lows
MicroBT has revealed its latest line of WhatsMiner devices, the M70 series, at an event in Abu Dhabi. This unveiling comes at a time when bitcoin mining is facing economic challenges, with hashprice hitting historic lows.
The M70 series offers different efficiency levels, ranging from 12.5 J/TH to 14.5 J/TH, with both air-cooled and liquid-cooled models available in each category. The product materials provided by MicroBT indicate that the machines deliver varying levels of hashpower, from 214 TH/s for the M70 to over 1 PH/s for the M79S models.
The mining hardware market is currently experiencing a downturn, as reflected in bitcoin’s hashprice dropping to approximately $35 per PH/s/day. This low value, close to its all-time low, is a result of high network hashrate and a decline in the price of bitcoin.
Due to the challenging market conditions, demand for new ASICs has decreased, leading to excess inventory and longer order processing times for manufacturers. Despite these challenges, MicroBT is focusing on long-term energy efficiencies and system-level enhancements. Founder and CEO Yang Zuoxing stressed the importance of improving energy efficiency in the industry, rather than solely relying on market fluctuations.
In addition to energy improvements, MicroBT is also exploring partnerships within the mining ecosystem. The company announced a collaboration with HashSmith, marking a shift towards joint mining participation. This strategic move aligns with the trend of major manufacturers like Bitmain and Canaan getting involved in mining operations themselves, rather than just selling hardware.
Canaan, for example, introduced the A16 series in October, boasting an efficiency of 12.8 J/TH. These developments signal a shift in the hardware market dynamics, with manufacturers adapting to meet the changing needs and preferences of buyers.
In the face of market challenges, MicroBT is focusing on innovation and partnership to navigate the current landscape. By prioritizing energy efficiency and fostering collaboration within the mining community, the company aims to emerge stronger and more resilient in the long term.
