Bitmain hosted the Crypto Mining Forum (CMF), online for the North American Region on April 13. Antminer and AntPool were among the key customers and strategic partners who participated in the forum. They delivered solid speeches and panels and sought to bring together the leading mining companies' perspectives on the current state of the cryptocurrency mining sector in the region.

Bitmain, Antminer and AntPool continue to empower users and the mining industry

The cryptocurrency mining industry is now at a new level of maturity and stability. Bitmain was founded in 2013 and has made every effort to advance the industry's technology and innovation.

Irene Gao (NSCA, Antminer Sales Director) announced the new global sales strategy of Bitmain at the forum. The company will use an ordering system that includes insured clauses for its users. Antminer has introduced an annual batch purchase of the Antminer Pro S19j Pro to better serve the market's growing needs. The miner offers long-term investment potential with its strong hash rate of 100 TH/s, and low energy efficiency ratio (29.5 J/TH).

AntPool's North American Operations Manager Eric Wang introduced the concept of mining pool development. Eric claims that he has seen a substantial increase in hash rates in the region in recent years and predicts that this will continue.

Bitmain, which announced the announcement at the CMF, will create a global mining map that will help customers find the best/new locations to set up new facilities. Bitmain also announced that it will create more North American cooperative mining centers to help the industry flourish. It also promised to meet its goal of providing repair services for miners in the region within a three-day turnaround time. AntPool, the world's most popular cryptocurrency mining platform will provide miners with safer, more efficient, and easier-to-use services that can bring them rich, transparent income.

Foundry: The Focus of the Bitcoin Mining Race is Now Hardware

Michael Colyer, CEO at Foundry, a cryptocurrency mining subsidiary of Digital Currency Group, shared his views and predictions about the current market. According to Colyer, due to the constant advancement in Bitcoin mining technology, the mining market's demand for chips has been competing with other cutting-edge tech companies like Apple and Samsung. This has led to a shortage of global chip supply and the need to grab chip resources. Institutional miners have also entered the market, making it more difficult for people to obtain miners and increasing competition because intuitions have access to large amounts of investments.

Companies have easy access to capital markets, which is the specialty of the North American market. In the coming six months, there will be more public companies. Many energy companies are also beginning to explore the Bitcoin market due to its enormous growth potential. They will become more active in the future.

Michael spoke out about the opportunity in the mining industry. Most mining equipment can be kept running for at least 4-5 years. This will provide miners with long-term investment returns.

State of Mining 2021: Large-Scale Operation with Green Development

Moderators were BitOoda CEO Tim Kelly and Core Scientific Chief Customer Success Officer Russell Cann. Greenidge Chief Mining Officer Greg Ohanessian, Crusoe CEO & Cofounder Chase Lochmiller, Crusoe President & co-founder Cully Cavness also joined the panel.

Panelists pointed out that the mining industry is not as fragmented as it was in the "wild west", but is moving towards a stage where institutional miners can operate on a large scale. The space is seeing greater financialization, which opens up new avenues for financing the sector, such as debt financing.

Mining companies will pay more attention and invest in the environment if they are aware of relevant regulations. This panel argues that green energy mining will provide more opportunities, and be vital for the future.

The United States has a strong interrelationship with energy and mining. Experts predict that innovative technologies and the use of renewable energy will be a major trend in the future development of the mining sector. One, miners will be more concerned about the relationship between mining and sustainable energy. They will also use renewable energy to reduce their power consumption. The application and development of immersion mining technology, which can improve the energy efficiency of mining hardware and prolong the life of miners, is another trend worth keeping an eye on. It also provides opportunities for mining companies to open up new mining locations, as these favorable locations are often in harsh environments.

The demands of the mining industry are being understood by energy suppliers, who now offer more resources and services to large-scale digital mining. Hosting is also on the rise, due to its advantages like low electricity prices and professional management.

Miners need to be aware that the hash rate of future orders will increase, which could impact their profitability. Altcoins are also available, but Bitcoin will remain the main cryptocurrency in the long-term.

Trends and Innovation: A New Business Model and an Influx of Institutions

Gemini Asia Pacific Business Development Bureau Director Eugene Ng and Atlas Mining Founder Raymond Yuan, DMG CEO Sheldon Bennett and Clean Spark CEO Zachary Bradford discussed the future of mining and the innovations that they foresee at the second panel.

The panel highlighted the latest trends in the mining sector. The first is the adoption of cooling systems. Immersion cooling offers the same hashrate with lower power consumption. A lot more important is that, due to the rapid development of Bitcoin mining along with many favorable factors, many new investment institutions have entered market, bringing a new business model: the financialization.

The rise in institutional investors is only the beginning. If more people participate in cryptocurrency mining on a large-scale, it will lead to the creation of other digital currencies and the opening of more markets. The panel discussed topics such as software upgrades, financial tools and energy improvements in order to lower mining costs.

The Cryptocurrency Mining Forum North American session was a success. Bitmain organizes the CMF Forum, which is a series global events that aims to create an information-sharing platform that facilitates global discussion, prediction, as well as prosperity in the mining industry. This forum has been held successfully in Miami, Toronto and Kuala Lumpur as well as in other cities. It has received a lot of support from Bitmain's partners and customers and has enjoyed a large following from miners all over the world. The CMF Forum will soon sail again online in Europe. Let us look forward for more exciting insights from the European section!

Video link to CMF North America

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By: ADMIN
Title: CMF North America: The Current State and Future of the Cryptocurrency Mining Industry
Sourced From: blog.bitmain.com/en/cmf-north-america-the-current-state-and-future-of-the-cryptocurrency-mining-industry/
Published Date: Thu, 22 Apr 2021 07:19:00 +0000