Events 23 November 2018

Paul How

Miners’ success ‘deeply depends’ on hardware from suppliers like us, CoinGeek Mining’s Yuan Bo says

At the CoinGeek-sponsored Bitcoin BCH Miners Choice Summit in Hong Kong, Yuan Bo, VP for Sales China and APAC of CoinGeek Mining and Hardware, showed the audience the exciting features of the ASIC chips soon to be sold exclusively by CoinGeek.

One of the anticipated talks at the November 2 CoinGeek-sponsored Bitcoin BCH Miners Choice Summit in Hong Kong was that of CoinGeek Mining and Hardware’s Yuan Bo, who stressed the importance of miners in the Bitcoin ecosystem.

“It’s pretty easy to understand, not like many people think,” he said. Among the four groups consisting of developers, exchanges, merchants, and miners, Yuan said it was the miners who “support everything.”

The CoinGeek Mining and Hardware VP for Sales, China and APAC, explained that it’s the larger mining companies that allow the Bitcoin ecosystem to become successful, while the other three key players ensure that cryptocurrency and blockchain serve practical purposes. “The success of the miners deeply depends on the hardware product from the unit suppliers, like us,” he added.

Yuan demonstrated via a chart the efficiency of CoinGeek mining equipment using Squire’s ASIC (application-specific integrated circuit) chips. He enumerated the current market leaders such as the Antminer S9, with an efficiency of 93.1 watts per terahash (W/TH); the Avalon 921, at 85 W/TH; the Avalon A9, at 57.33 W/TH; the Ebit E11++, at 44 W/TH; and the Antminer S11, at 42.86 W/TH.

Squire beats all of these, generating 19 terahashes per second and using 700 watts for an efficiency of 36.84 W/TH. “This is the best miner as far as we know,” Yuan said.

He said that CoinGeek Mining and Hardware endeavored in “pushing the limits of the technology.” Specifically, they aim to increase hash output, while reducing power consumption. “Also, we’ll be able to position ourselves for secondary market opportunities [such as] AI as it continues to grow,” Yuan said, leaving the audience guessing what else the company has in store.

Apart from the obvious dedicated work involved, Yuan credited much of CoinGeek Mining and Hardware’s success to their choice of partners. “We have really strong partners such as Squire, Samsung, Foxconn, Gaon Chips, Aracore, Ara Systems… Actually, they’re all leading companies in the industry,” he said.

Join the CoinGeek conference in London from November 28 to 30, with the special, invitation-only Miners Day event on November 27. It’s the perfect opportunity to meet the members of the BCH community and discuss not just the ongoing reality of Miners Choice for Bitcoin going forward but also why enterprise applications needing Bitcoin should stop moving in order for the ecosystem to grow. Also, join the (free) bComm Association and be part of the crypto revolution.

Note: Tokens on the Bitcoin Core (SegWit) chain are referenced as BTC coins; tokens on the Bitcoin Cash ABC chain are referenced as BCH, BCH-ABC or BAB coins.

Bitcoin Satoshi Vision (BSV) is today the only Bitcoin project that follows the original Satoshi Nakamoto whitepaper, and that follows the original Satoshi protocol and design. BSV is the only public blockchain that maintains the original vision for Bitcoin and will massively scale to become the world’s new money and enterprise blockchain.

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