New ASIC Miner from Blockstream Coming Soon

Mining is here to stay: Blockstream, the Bitcoin tech company, is gearing up to unveil its long-awaited ASIC miner in the third quarter of 2024. This is the result of several years of hard work by their engineering team. Adam Back, the CEO and co-founder, shared this news during their first media briefing. Back in 2021, they picked up the mining hardware maker Spondoolies. Blockstream had previously raised $125 million to boost its mining ventures, and now they're looking to secure even more funding. The launch of this new ASIC miner was originally set for 2022, but it's been pushed back. Back now believes it will hit the market in the latter part of 2024. He mentioned that there are two manufacturing methods planned, with the first being a test run called a "shuffle run," which is expected to happen in the third quarter of next year.

So ... a miner with no specs ... that's useful ... NOT They already posted it here 3 days before you also: https://bitcointalk.org/index.php?topic=521520.msg62408654#msg62408654

Well, it would be pretty useless to announce the specs when the miner is at least a year away from coming to the market, this will only make competitors aware of the specs and rush to make a better/cheaper one. With that said, I don't imagine they will have much success in competing against Bitmain and MicroBT, if the miner is made in the U.S and isn't subject to the U.S tax on Chinese products that would give them a 20% price advantage when selling to U.S miners, but will that be enough to offset the manufacturing cost in the U.S vs China? I highly doubt it. Besides, Bitmain is already ahead in this regard and they started migrating the production out of China to places like Malaysia, MicroBT has some production in Thailand, so that tax advantage can't be there forever, I don't see a bright future for this project, but let's wait and see.

It is useful for them, they need to announce it in order to raise funds, so it's either they secretly announce the specs to the investor or the investors would blindly invest in the project which is likely the case. That's a good point, and that is just the software level, this is going to be a combination of both software and hardware, Intel tried to make mining chips and sold them to mostly western companies (U.K, U.S, and Canadain based) such as Hive Blockchain Technologies, and ARGO, it's evident that all of them failed in competing with the Chinese giants, and intel had to stop it's mining chips production. Blockstream is now probably limited to TSMC (Bitmain's friend) or Samsung (MicroBT's friend), they need to outperform the chip design and cost. So unless they have invented or discovered something new, it will be very difficult to beat the Chinese in this regard, and all of this could just be another failed project.

FYI, their satellite actually is hardware where you can connect to their satellite to sync blockchain and broadcast TX. But talking about hardware and mining, 1. They also create hardware wallet called Blockstream Jade. But it's relative new product. 2. They have 2 service about mining which are Blockstream Energy and Blockstream Mining. But it's not aimed for individual, so we don't know how good or popular are those services. But at least they shouldn't be clueless about mining/ASIC.

Bitmain's S19 Bitcoin Miners Account for Bulk of Network Hashrate, Says New Research Three models of Bitmain mining rigs account for 76% of computing power on the bitcoin network, according to new research published by Coinmetrics on Tuesday. The Antminer S19j Pro accounts for 34.3% of the network hashrate and the S19 for 28.1%, and they have been the most used machines on the network since March 2021, Coinmetrics found. The Antminer S19 XP accounts for another 13.7% of the network hashrate, said the report. Meanwhile, MicroBT's M50 is below the threshold of detectability, the researchers said. Blockstream will have a hard time competing with Bitmain, but Blockstream has a big business of mining and hosting mining hardware.

A lot depends on what they want to do with the miner. IE super efficient at a higher cost might work.  I have picked up a special controller with special firmware which allows the s19 xp to do 19 watts and 100th. So if you could build a spooner ruler to do 15 watts it could sell. I would like to see an efficiency war for builders. Spondollies lost against bitmain with a price war back around 2015 or 2016 but if they did an efficiency war maybe it could do okay as a niche product. ie they would keep the 8 cent power guy alive

But they got the spondoolies guys 2 years ago ... and have nothing to show for it. Not being able to announce anything now and supposedly no miner until late next year doesn't sound they're gonna succeed at all ...