Yesterday, the price of Ethereum jumped above the all-time high of $ 1,420 and set a new record. At the same time, Bitcoin has already managed to not only update the maximum, but also double it in the first half of January.
Against the background of this price “unfairness” and high expectations from the project, interest in mining ETH grows, and where there is demand, there is also supply. A new flagship ASIC from Innosilicon has gone on sale, according to sources. Let’s talk about it in more detail.
Note that interest in Ethereum mining is indeed at a historic peak. This is proved by the hash rate of the cryptocurrency network, which is the sum of the computing power of all devices in it. Over the past year, it has grown 2.2 times, that is, the number of video cards and ASIC miners in the equivalent of computing power has at least doubled.
The upward trend in the popularity of Ethereum mining is also noticeable in the number of miners in the 2Miners pool. Today, for the first time, their number exceeded the level of 8,600 miners, although on December 1, 2020, the figure reached 5,000 miners.
Innosilicon A11 Specifications
And although the popularity of Ethereum mining is growing, it is quite difficult to find modern equipment for this. As we found out in a recent post on Nvidia graphics cards, it is almost impossible to find a new generation of RTX 3000 series on sale, and models in stock are sold at a significantly higher price. However, other manufacturers do not waste time and also present new products against the backdrop of the mining boom.
As a source on the Chinese Weibo platform said the day before, some miner sellers have already started accepting payments for a new model from Innosilicon called A11. The device is designed for Ethereum mining and will be the successor to the A10 ETHMaster line, which was announced in July 2018.
There is little information about the new product, but there are still key characteristics. Here are the main differences between the Innosilicon A11:
- hash rate – 2100 MH / s ± 10 percent;
- consumption – 2300 W;
- memory size – 8 GB;
- delivery times – from April to June 2021.
The cost of a new ASIC miner is about 100 thousand yuan, or about 15.46 thousand dollars. Recall that the A10 ETHMaster presented in 2018 for 365 and 485 MH / s cost $ 3,800 and $ 5,000, respectively, that is, the current cost hardly surprised anyone.
Especially considering the hash rate, which is equivalent to the performance of 67 video cards of the Nvidia GeForce 1070 Ti model. At the same time, sources clarify that the batch of new items will be relatively small.
Innosilicon A11 profitability and ROI
The specified hash rate is enough to calculate the profitability of Ethereum mining, which the 2CryptoCalc calculator knows. We indicate the hash rate of 2100 MH / s for the Ethash algorithm and we get an estimated income of $ 161 per day. Electricity costs due to different tariffs are not included here, so this is also worth taking into account.
However, excluding electricity, the ASIC will pay off in about three months, which is a very good result.
How long will it take to mine Innosilicon A11
The memory capacity of the novelty is 8 GB. According to the Investoon platform, this figure will be enough for Ethereum mining up to the era numbered 895, which is tentatively coming in May 2027.
It is worth remembering that due to the transition to version 2.0, the Ethereum team plans to abandon the Proof-of-Work consensus mechanism and switch to Proof-of-Stake.
Accordingly, mining ETH on video cards will be irrelevant. The event is scheduled for the so-called phase 1.5, which should be activated in 2021 – although deviations from the planned schedule are possible. Read more about the stages of the Ethereum 2.0 update in the detailed material.
Mining settings for Innosilicon A11
However, remembering Ethereum on the Innosilicon A11 will work out anyway. If you have purchased this ASIC, the following settings will allow you to start mining on the 2Miners pool.
URL: stratum + tcp: //eth.2miners.com: 2020
YOUR_ADDRESS in this case is the cryptocurrency address to which the mining reward will be received. Here you need to specify your wallet, starting with 0x.
As a result, the new ASIC miner from Innosilicon is powerful and expensive. And although the volume of production promises to be small, a high hash rate at the current rates of cryptocurrencies should be enough not only for the payback of the device, but also for earning money. Moreover, this is relevant even for the situation if Ethereum developers really manage to switch to PoS this year.
We believe that the novelty from Innosilicon will not only arouse the interest of users, but at the same time remind the market demand for video card manufacturers. The latter are now difficult to buy, so the same Nvidia is clearly worth working on increasing the models in stock.