Bitmain Unveils Unprecedented Compensation Plan For Btc Miners
Date
8/21/2023 11:00:23 PM
(MENAFN- CoinXposure)
Bitmain, the largest and most well-known manufacturer of bitcoin (btc) mining equipment (ASICs), reveals an unheard-of compensation program.
It will be activated if the price of BTC falls by 20% or more, making PoW mining less hazardous.
Bitmain will compensate purchasers of its flagship S19J XP mining rigs in the event of a decline in the market capitalization of cryptocurrencies.
Bitmain will distribute $1.89 per trillion hashes mined by its hardware if the price of BTC falls by at least 20%.
The compensation program will be operative for three months upon the purchase of the most potent series of BTC mining hardware.
Existing Bitmain S19J XP users can also claim rewards in the event of market instability. The Bitmain team communicated this statement via WeChat.
Colin Wu, a chinese cryptocurrency correspondent and industry insider, observed the statement.
In the past week, the price of BTC has decreased by 12%.
As a result, should this painful decline reoccur, the first impacted miners can seek compensation from Bitmain.
The Antminer S19J XP by Bitmain is one of the most potent Bitcoin mining hardware devices ever created.
See also tether launches bitcoin mining operations in uruguay 3 months ago
It generates 151 THashes per second for 21.5 joules per TH. This premier model is available for nearly $5,000 on the official Bitmain website.
In the fourth quarter of 2023, the first devices will become available.
As previously reported, usdt issuer tether reaffirmed its determination to dominate the BTC mining market.
Moria, a BTC mining orchestration software with AI and IoT components, was introduced last week .
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