Page 1 of 2 12 LastLast
Results 1 to 16 of 22

Thread: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

  1. #1
    HEXUS.admin
    Join Date
    Apr 2005
    Posts
    31,709
    Thanks
    0
    Thanked
    2,073 times in 719 posts

    Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Antminer E9 "launching soon" and is rumoured to cost approx US$20,000.
    Read more.

  2. #2
    Spreadie
    Guest

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    How is it a viable business model if a largely autonomous single purpose device makes more money than it costs to buy? Surely you'd just mine with them instead of selling?

  3. #3
    Senior Member
    Join Date
    Jun 2013
    Location
    ATLANTIS
    Posts
    1,207
    Thanks
    1
    Thanked
    28 times in 26 posts

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    As much as the CAPITALISTS hate crypto currency I will support it even if there is no stock of GPUs for 10 years. This is the new era where the government is loosing its grip on expensive money transfers thanks to the literate taxes and the currency that looses value over night because some countries are having trade wars.

  4. #4
    Registered User
    Join Date
    Apr 2021
    Posts
    7
    Thanks
    0
    Thanked
    0 times in 0 posts

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Spreadie View Post
    How is it a viable business model if a largely autonomous single purpose device makes more money than it costs to buy? Surely you'd just mine with them instead of selling?
    No one knows what crypto markets will do, but selling these at 20k a pop is surely making money for Bitmain.

  5. #5
    Banhammer in peace PeterB kalniel's Avatar
    Join Date
    Aug 2005
    Posts
    30,873
    Thanks
    1,833
    Thanked
    3,335 times in 2,679 posts
    • kalniel's system
      • Motherboard:
      • Gigabyte Z390 Aorus Ultra
      • CPU:
      • Intel i9 9900k
      • Memory:
      • 32GB DDR4 3200 CL16
      • Storage:
      • 1TB Samsung 970Evo+ NVMe
      • Graphics card(s):
      • nVidia GTX 1060 6GB
      • PSU:
      • Seasonic 600W
      • Case:
      • Cooler Master HAF 912
      • Operating System:
      • Win 10 Pro x64
      • Monitor(s):
      • Dell S2721DGF
      • Internet:
      • rubbish

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Spreadie View Post
    How is it a viable business model if a largely autonomous single purpose device makes more money than it costs to buy? Surely you'd just mine with them instead of selling?
    Presumably their business model and resulting stakeholders are a) in the hardware business rather than speculation/coin mining business and b) are satisfied with the returns from hardware sales.

    Viability doesn't hinge on making the most amount of money possible.

  6. #6
    root Member DanceswithUnix's Avatar
    Join Date
    Jan 2006
    Location
    In the middle of a core dump
    Posts
    12,519
    Thanks
    735
    Thanked
    1,460 times in 1,230 posts
    • DanceswithUnix's system
      • Motherboard:
      • Asus X470-PRO
      • CPU:
      • 3700X
      • Memory:
      • 32GB 3200MHz ECC
      • Storage:
      • 1TB Linux, 2TB Games (Win 10)
      • Graphics card(s):
      • Asus Strix RX Vega 56
      • PSU:
      • 650W Corsair TX
      • Case:
      • Antec 300
      • Operating System:
      • Fedora 35 + Win 10 Pro 64 (yuk)
      • Monitor(s):
      • Benq XL2730Z 1440p + Iiyama 27" 1440p
      • Internet:
      • Zen 80Mb/20Mb VDSL

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Spreadie View Post
    How is it a viable business model if a largely autonomous single purpose device makes more money than it costs to buy? Surely you'd just mine with them instead of selling?
    Wasn't the best way to make money in the old gold rush to sell pick axes?

  7. Received thanks from:

    Sumanji (26-04-2021)

  8. #7
    Senior Member
    Join Date
    May 2014
    Posts
    2,385
    Thanks
    181
    Thanked
    304 times in 221 posts

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Spreadie View Post
    How is it a viable business model if a largely autonomous single purpose device makes more money than it costs to buy? Surely you'd just mine with them instead of selling?
    By that mentality, Nvidia should stop selling GPUs and just do inhouse mining.

    It's the same thing as always, the tools you manufacture can always be used to make more than you do using them than you selling them. But then everyone needs the tool so therefore you make bank on that fact not the more fluffy post sale one.

    Think of it like a farming equipment manufacturer, it costs buttons for the shovels, hoes and tools to plow and farm a land and will after a single harvest make more than the tools were purchased for. But they still needed the tool so that's where Bitmain is sitting.

    I also bet they have some of these running making them money as well anyway.

  9. #8
    Now 100% Apple free cheesemp's Avatar
    Join Date
    Apr 2007
    Location
    Near the New forest
    Posts
    2,928
    Thanks
    350
    Thanked
    243 times in 167 posts
    • cheesemp's system
      • Motherboard:
      • ASUS TUF x570-plus
      • CPU:
      • Ryzen 3600
      • Memory:
      • 16gb Corsair RGB ram
      • Storage:
      • 256Gb NVMe + 500Gb TcSunbow SDD (cheap for games only)
      • Graphics card(s):
      • RX 480 8Gb Nitro+ OC (with auto OC to above 580 speeds!)
      • PSU:
      • Cooler Master MWE 750 bronze
      • Case:
      • Gamemax f15m
      • Operating System:
      • Win 11
      • Monitor(s):
      • 32" QHD AOC Q3279VWF
      • Internet:
      • FTTC ~35Mb

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Tabbykatze View Post
    By that mentality, Nvidia should stop selling GPUs and just do inhouse mining.

    It's the same thing as always, the tools you manufacture can always be used to make more than you do using them than you selling them. But then everyone needs the tool so therefore you make bank on that fact not the more fluffy post sale one.

    Think of it like a farming equipment manufacturer, it costs buttons for the shovels, hoes and tools to plow and farm a land and will after a single harvest make more than the tools were purchased for. But they still needed the tool so that's where Bitmain is sitting.

    I also bet they have some of these running making them money as well anyway.
    Got to test them haven't they! Probably one of the few times in software development where management are happy to do a little more 'testing'.
    Trust

    Laptop : Dell Inspiron 1545 with Ryzen 5500u, 16gb and 256 NVMe, Windows 11.

  10. #9
    Spreadie
    Guest

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by DanceswithUnix View Post
    Wasn't the best way to make money in the old gold rush to sell pick axes?
    Yes, I was going to reference that but the single application and autonomous points would just invite arguments about the effort and further utility of pick axes

  11. #10
    Senior Member
    Join Date
    Aug 2003
    Location
    Wonderful Warwick!
    Posts
    3,919
    Thanks
    4
    Thanked
    183 times in 153 posts

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Spreadie View Post
    Quote Originally Posted by DanceswithUnix View Post
    Wasn't the best way to make money in the old gold rush to sell pick axes?
    Yes, I was going to reference that but the single application and autonomous points would just invite arguments about the effort and further utility of pick axes
    Surely sell and repair pick axes..... I'll get me coat
    Old puter - still good enuff till I save some pennies!

  12. #11
    root Member DanceswithUnix's Avatar
    Join Date
    Jan 2006
    Location
    In the middle of a core dump
    Posts
    12,519
    Thanks
    735
    Thanked
    1,460 times in 1,230 posts
    • DanceswithUnix's system
      • Motherboard:
      • Asus X470-PRO
      • CPU:
      • 3700X
      • Memory:
      • 32GB 3200MHz ECC
      • Storage:
      • 1TB Linux, 2TB Games (Win 10)
      • Graphics card(s):
      • Asus Strix RX Vega 56
      • PSU:
      • 650W Corsair TX
      • Case:
      • Antec 300
      • Operating System:
      • Fedora 35 + Win 10 Pro 64 (yuk)
      • Monitor(s):
      • Benq XL2730Z 1440p + Iiyama 27" 1440p
      • Internet:
      • Zen 80Mb/20Mb VDSL

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Spreadie View Post
    Yes, I was going to reference that but the single application and autonomous points would just invite arguments about the effort and further utility of pick axes
    I was wondering if there were other things than Eth that this thing could mine if/when Eth2.0 comes out. OFC that could be years off yet, and there still seem to be people fighting it to keep their mining gravy train going. But otherwise, a year down the line, this could be a rather expensive paperweight (though a 3080 seems profitable enough so it should have paid for itself quite easily by then).

    So once again, it seems the crypto democratisation of money we were promised is open to anyone with a spare $20000 kicking about. I'll go check the back of the sofa, but I think I'm out. On the upside, if it kills GPU crypto mining then I'm good with that. But then existing asics haven't done that, and in a way this ups the investment and momentum behind the current proof of work disaster so possibly gets us more entrenched in that.

  13. #12
    Senior Member
    Join Date
    Jan 2016
    Location
    Huntingdon
    Posts
    555
    Thanks
    2
    Thanked
    28 times in 22 posts
    • Rubarb's system
      • Motherboard:
      • MSI H81m-E33
      • CPU:
      • G3258
      • Memory:
      • 8GB hyper x beast
      • Storage:
      • 120ssd, 2gb hdd
      • Graphics card(s):
      • msi gtx960 4gb
      • PSU:
      • seasonic 450w
      • Case:
      • Thermaltake mozrt tx
      • Operating System:
      • windows 10
      • Monitor(s):
      • samsung 24'
      • Internet:
      • 100mb

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    hopefully all the miners will buy these so gamers can actually get gpus then I hope the market crashes hard as hell.
    Infact even if I don't get a decent gpu from this I will be happy knowing scumbag miners have lost money.

  14. #13
    Senior Member
    Join Date
    May 2014
    Posts
    2,385
    Thanks
    181
    Thanked
    304 times in 221 posts

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by DanceswithUnix View Post
    I was wondering if there were other things than Eth that this thing could mine if/when Eth2.0 comes out. OFC that could be years off yet, and there still seem to be people fighting it to keep their mining gravy train going. But otherwise, a year down the line, this could be a rather expensive paperweight (though a 3080 seems profitable enough so it should have paid for itself quite easily by then).

    So once again, it seems the crypto democratisation of money we were promised is open to anyone with a spare $20000 kicking about. I'll go check the back of the sofa, but I think I'm out. On the upside, if it kills GPU crypto mining then I'm good with that. But then existing asics haven't done that, and in a way this ups the investment and momentum behind the current proof of work disaster so possibly gets us more entrenched in that.
    After bitmain brought out their big BTC miners, around that time or economically shortly after there was the crash. Maybe all these big mining houses getting these instead will cause another downturn and disinter people from eth mining and the gpu sector will dip again from crypto miners in lieu of getting something far better and cheaper.

    But will Bitmain be able to supply enough to cause this? Probably not

  15. #14
    IQ: 1.42
    Join Date
    May 2007
    Location
    old trafford
    Posts
    1,340
    Thanks
    132
    Thanked
    94 times in 80 posts
    • Tunnah's system
      • Motherboard:
      • Asus somethingorother
      • CPU:
      • 3700X
      • Memory:
      • 16GB 3600
      • Storage:
      • Various SSDs, 90TB RAID6 HDDs
      • Graphics card(s):
      • 1080Ti
      • PSU:
      • Silverstone 650w
      • Case:
      • Lian-Li PC70B
      • Operating System:
      • Win10
      • Internet:
      • 40mbit Sky Fibre

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by lumireleon View Post
    As much as the CAPITALISTS hate crypto currency I will support it even if there is no stock of GPUs for 10 years. This is the new era where the government is loosing its grip on expensive money transfers thanks to the literate taxes and the currency that looses value over night because some countries are having trade wars.
    You know money transfers are not affected in any way whatsoever right ? There are millions upon millions of transfers per second in the real world, crypto simply can't handle that (bitcoin is especially useless in this regard, it's like 10 per second and costs an absolute fortune).

    Crypto moves money from 1 person to another, that's about it. It has no value outside of its inherent value. And when it stops, it ceases to exist. It's a useless product propped up by itself. And don't even get me started on the waste of electricity.

  16. Received thanks from:

    Percy1983 (27-04-2021)

  17. #15
    root Member DanceswithUnix's Avatar
    Join Date
    Jan 2006
    Location
    In the middle of a core dump
    Posts
    12,519
    Thanks
    735
    Thanked
    1,460 times in 1,230 posts
    • DanceswithUnix's system
      • Motherboard:
      • Asus X470-PRO
      • CPU:
      • 3700X
      • Memory:
      • 32GB 3200MHz ECC
      • Storage:
      • 1TB Linux, 2TB Games (Win 10)
      • Graphics card(s):
      • Asus Strix RX Vega 56
      • PSU:
      • 650W Corsair TX
      • Case:
      • Antec 300
      • Operating System:
      • Fedora 35 + Win 10 Pro 64 (yuk)
      • Monitor(s):
      • Benq XL2730Z 1440p + Iiyama 27" 1440p
      • Internet:
      • Zen 80Mb/20Mb VDSL

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Tunnah View Post
    ... It's a useless product propped up by itself.
    Sounds like many religions, and they've been going for centuries

  18. Received thanks from:

    Spud1 (27-04-2021)

  19. #16
    Theoretical Element Spud1's Avatar
    Join Date
    Jul 2003
    Location
    North West
    Posts
    7,508
    Thanks
    336
    Thanked
    320 times in 255 posts
    • Spud1's system
      • Motherboard:
      • Gigabyte Aorus Master
      • CPU:
      • 9900k
      • Memory:
      • 16GB GSkill Trident Z
      • Storage:
      • Lots.
      • Graphics card(s):
      • RTX3090
      • PSU:
      • 750w
      • Case:
      • BeQuiet Dark Base Pro rev.2
      • Operating System:
      • Windows 10
      • Monitor(s):
      • Asus PG35VQ
      • Internet:
      • 910/100mb Fibre

    Re: Bitmain teases Ethereum miner as fast as 32x RTX 3080 GPUs

    Quote Originally Posted by Spreadie View Post
    How is it a viable business model if a largely autonomous single purpose device makes more money than it costs to buy? Surely you'd just mine with them instead of selling?
    AFAIK the fact they are selling the generation of hardware, means they are already running the G10 internally. This certainly used to be their strategy - the fastest ones they had were used internally until the difficulty jumped up a level & they had their next product ready to go, at which point they swap out and sell to the rest of the market. They own quite a few mining farms in China.

    Lets them have a bit of the cherry on both ends,

Page 1 of 2 12 LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •