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ASIC-Maker Bitmain to Compensate Miners During Volatility Spikes

ASIC-Maker Bitmain to Compensate Miners During Volatility Spikes

Bitmain, the biggest and hottest producer of Bitcoin (BTC) mining gear (ASICs), shares the plan for a beforehand unseen compensation program. It will likely be activated in case of 20% or extra Bitcoin (BTC) value drops to make the method of PoW mining much less dangerous.

Bitmain pronounces unmatched compensation program to guard BTC miners from volatility

ASIC producer Bitmain will compensate the losses to purchasers of S19J XP flagship mining rigs in case of crypto capitalization dropdowns. Ought to Bitcoin (BTC) lose 20% or extra of its value, Bitmain will disribute $1.89 per each trillion hashes mined by its {hardware}.

Bitmain introduced the launch of a market volatility safety mechanism. Inside three months after the client purchases the S19j XP, if the market fluctuates greater than 20% downward, Bitmain will present compensation of $1.89/T. Clients who beforehand bought the S19j XP…

— Wu Blockchain (@WuBlockchain) August 21, 2023

The compensation program shall be lively for 3 months upon the acquisition of Bitcoin (BTC) mining {hardware} of essentially the most highly effective sequence.

Current customers of Bitmain S19J XP are additionally in a position to declare rewards in case of market instability. Such an announcement was shared on WeChat by the Bitmain crew.

Chinese language cryptocurrency journalist and insider Colin Wu observed the assertion.

Within the final seven days, the Bitcoin (BTC) value misplaced 12%. As such, ought to it repeat this painful plunge, the primary affected miners will be capable to declare their compensations from Bitmain.

Tether (USDT) doubles its wager on mining

Bitmain’s Antminer S19J XP is likely one of the strongest Bitcoin (BTC) mining {hardware} units ever. It produces 151 THashes per second, consuming 21.5 Joules per TH. This flagship mannequin is obtainable for nearly $5,000 on Bitmain’s official web site.

There aren’t any rigs in inventory, however the first units shall be obtainable in This fall, 2023.

As lined by U.At present beforehand, USDT issuer Tether reaffirmed its dedication to gaining supremacy within the Bitcoin (BTC) mining section.

Final week, it launched Moria, a Bitcoin (BTC) mining orchestrating software program with the weather of AI and IoT.

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