The largest and most well-known manufacturer of Bitcoin (BTC) mining equipment (ASICs), Bitmain, has revealed the details of a brand-new payout scheme. To make the riskier PoW mining procedure less dangerous, it will be enabled in the event that the price of Bitcoin (BTC) declines by 20% or more.
Bitmain announces unmatched compensation program to protect BTC miners from volatility
If crypto valuation declines, ASIC manufacturer Bitmain will make up the losses to buyers of S19J XP flagship mining equipment. In the event that Bitcoin (BTC) loses 20% or more of its value, Bitmain will pay $1.89 for each trillion hashes that are mined using their equipment.
Following the acquisition of the most powerful series of Bitcoin (BTC) mining equipment, the reimbursement programme will be operational for three months.
In case of market volatility, Bitmain S19J XP current customers can also collect prizes. The Bitmain team posted such a message on WeChat.
Colin Wu, a writer and industry expert from China, took note of the claim.
The price of Bitcoin (BTC) fell 12% during the past week. The first injured miners will therefore be entitled to seek their compensations from Bitmain should it repeat this unpleasant plummet.
Tether (USDT) doubles its bet on mining
One of the most potent Bitcoin (BTC) mining hardware systems ever is Bitmain’s Antminer S19J XP. While using 21.5 Joules per TH, it generates 151 THashes per second. The price of this flagship model is over $5,000, according to Bitmain’s official website.
The first gadgets won’t be on hand until Q4, 2023, while there are no rigs in stock at the moment.
As previously reported by U.Today, USDT issuer Tether confirmed its aim to seizing dominance in the Bitcoin (BTC) mining industry.
It unveiled Moria last week, a Bitcoin (BTC) mining orchestrating software with AI and IoT components.
