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Multiple miners told Wu Shuo Blockchain that Bitmain’s latest Antminer S19 has begun to be shipped and has just arrived at major mining farms. On March 23, S19 was put on sale for the first time on Bitmain’s official website and sold out in 2 minutes. This is also the first time the price of S19 has been announced. S19
The price of Pro 110T is 20,770 yuan, and the price of S19 95T is 15,495 yuan.

The delivery time is from 2020.05.11 to 2020.05.20. The power consumption ratio of S19 Pro exceeds 30J/TH for the first time in the industry, and that of S19 is 34.5J/TH. Currently, the main shipments are S19.

The competitor Shenma M30 series in the same period was shipped about a month earlier, with a power consumption ratio of 38J/TH. Miners reported that the criticized power problem of the M20 seems to have been basically fixed.

Currently, both the S19 and M30 series are only available for sale in futures. The S19 series shipment time on Bitmain’s official website has been scheduled to August. Wu said that Blockchain had disclosed that Bitmain’s revenue in the first four months exceeded US$300 million, indicating that mining machine sales were good.

Miners told Wu Shuo Blockchain that judging from the feedback from Huaqiang North SEG, where the mining industry is most concentrated, the current production capacity of the S19 series should be more sufficient than the M30 series. However, it is also said that most of the early production capacity of the M30 series was sold abroad because there was not much domestic production capacity left.

Bitmain’s Antminer uses TSMC’s 7nm chip. Recently, there have been reports that TSMC is coordinating various parties to transfer production to TSMC as Huawei is subject to increased US sanctions. There are doubts about whether Bitmain will be affected.

Sources in the supply chain revealed that because it is not a bull market at the moment, Bitmain accounts for a small proportion of TSMC’s production capacity, so it will not be greatly affected. In addition, if Huawei withdraws in the future, TSMC's 7nm and 5nm production capacity will become extremely loose, which will benefit the supply of mining machine production capacity when the bull market arrives.

Since TSMC's 7nm production capacity is only supplied to Antminer, Samsung's already insufficient 8nm production capacity needs to be supplied to Shenma, Canaan, Innosilicon and other companies, so mining machine manufacturers using Samsung may also face the problem of insufficient production capacity. Canaan's first quarter financial report stated that based on the mass production and shipment of Samsung's 8nm process chips, it has produced tens of thousands of products based on this process.

In the final analysis, the fundamental factor affecting the sales of mining machines is the currency price. Given the current currency prices, it is difficult for mining machine manufacturers to obtain higher profits, and it is rare for Sichuan to have more electricity and less machines during the flood season. Therefore, refined operations may be the thinking of major mining machine manufacturers.

However, due to the poor quality of the T17 series launched by Ketuan Zhan in 2019 and the recent frequent troubles, miners also have quality concerns about the Ant 19 series. The stability of the specific product will need to be disclosed later and the feedback from miners will be reviewed after the operation. Wu said that he will continue to pay attention.