Bitmain, a well-known manufacturer of mining rigs, has unveiled a new machine dedicated to mining the digital currency Filecoin (FIL). This device, akin to the firm’s KAS Miner KS3, comes with a substantial price tag of $38,888 per unit.

Bitmain Rolls Out Rack-Mounted Filecoin Miner

Bitmain has revealed plans to start selling a fresh-off-the-assembly-line Filecoin (FIL) mining rig. Filecoin, a decentralized storage network based on blockchain technology, was conceived by Protocol Labs in 2017. It utilizes a unique mining algorithm, which combines proof-of-replication and proof-of-spacetime, designed originally to deter application-specific integrated circuits (ASICs) to promote decentralization. Despite this initial approach, Bitmain and other companies have engineered ASICs purposely for mining FIL, and they also offer FIL cloud mining services.

During Thursday’s announcement, Bitmain announced that the rack-mounted filecoin miner will be available for sale throughout Friday, priced at $38,888 per unit. The firm specified that each machine has a capacity of 4,300T and assures that miners can start generating earnings immediately. Although the $38,888 price tag is high, it’s not the most expensive Bitmain ASIC miner.

Previously, Bitmain offered the KAS Miner KS3, priced at $49,800, with a hashrate of 8,300G, but it’s currently out of stock. Before the introduction of cloud mining services by companies like Bitdeer and 1475, and the emergence of Bitmain’s new miner, a token called the Filecoin standard hashrate token (FILST) was introduced in 2021.

As per the data from coinmarketcap.com, this coin is reportedly backed by 1 GB of FIL full storage arithmetic. FIL, the native crypto asset of the blockchain, currently sits as the 31st largest digital currency by market capitalization, and it has seen an 18% growth against the U.S. dollar in the last 30 days. However, it’s presently valued 98% below its peak of $236 per unit, reached on April 1, 2021. The price of FIL over the past 24 hours has fluctuated between $4.25 and $4.56 per coin.

We welcome your thoughts and views on Bitmain’s latest filecoin miner. Please feel free to share your insights on this topic in the comments section below.

Frequently Asked Questions (FAQs) about Bitmain Filecoin Mining Rig

What is the new product unveiled by Bitmain?

Bitmain has unveiled a new Filecoin (FIL) mining rig, similar to the company’s KAS Miner KS3, but with a higher price tag of $38,888 per machine.

What is Filecoin?

Filecoin is a decentralized, blockchain-based storage network that was launched by Protocol Labs in 2017. Its mining algorithm, which combines proof-of-replication and proof-of-spacetime, was designed to resist application-specific integrated circuits (ASICs) to promote decentralization.

What is the price and capacity of the new Bitmain Filecoin miner?

The new Filecoin miner from Bitmain is priced at $38,888 per unit and offers 4,300T per unit. Bitmain claims that miners will start earning immediately upon use.

How does this new mining rig compare with Bitmain’s previous products?

The price of the new Filecoin miner is high compared to some other Bitmain ASIC rigs, but it’s not the most expensive one. The company previously sold a KAS Miner KS3, which had a higher price tag of $49,800 but is currently out of stock.

What is the current market position of Filecoin (FIL)?

As of the latest data, Filecoin (FIL), the blockchain’s native crypto asset, is the 31st largest digital currency by market capitalization. Its value has increased by 18% against the U.S. dollar in the past 30 days, despite being 98% lower than its all-time high of $236 per unit, recorded on April 1, 2021.

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4 comments

Cryptogirl July 22, 2023 - 1:58 pm

So the old KAS miner was even more expensive! interesting.. those who’ve got the cash to splash, this might be worth considering? either way, fascinating stuff!

Reply
DecentDecentralized July 22, 2023 - 7:31 pm

As a decentralization fan i’m a bit torn, but progress is progress. just hope this doesn’t become a monopolistic situation with bitmain rigs everywhere.

Reply
BlockchainBobby July 22, 2023 - 10:33 pm

Not sure how i feel about ASICs and FIL, wasn’t the point of Filecoin’s algos to resist this kinda thing?? but i guess where theres a will, theres a way. tech never stops surprising me…

Reply
MinerMike July 23, 2023 - 10:06 am

Heard about this on the grapevine, and it’s gonna be a hard sell at that price. but i guess serious miners might consider it an investment? let’s see how the market reacts…

Reply

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