Bitmain, the mining rig manufacturer, has announced the launch of a new rig that mines the digital currency filecoin (FIL). Similar to the company’s KAS Miner KS3, the new FIL miner carries a hefty price tag of $38,888 per machine.
Bitmain Introduces On-Rack Filecoin Miner
Bitmain announced Thursday that it will begin selling a newly manufactured Filecoin (FIL) mining rig. Filecoin, a decentralized, blockchain-based storage network, was launched by Protocol Labs in 2017. Its mining algorithm, known as proof-of-replication and proof-of-spacetime, was originally designed to resist application-specific integrated circuits (ASICs) in an effort to encourage decentralization. Despite this, Bitmain and other manufacturers have developed ASICs specifically for mining FIL and also offer FIL cloud mining contracts.
In the announcement on Thursday, Bitmain stated that the on-rack filecoin miner will be sold throughout the day on Friday for $38,888 per unit. Bitmain detailed that the machine offers 4,300T per unit and claims miners will begin earning immediately. While $38,888 is a high price for Bitmain ASIC rigs, it’s not the most expensive.
The company previously sold a KAS Miner KS3 with a hashrate of 8,300G for $49,800, although the machine is currently sold out. Prior to the introduction of cloud mining services by firms such as Bitdeer and 1475, and Bitmain’s new miner, a token was launched in 2021 known as the filecoin standard hashrate token (FILST).
According to details from coinmarketcap.com, the coin is reportedly anchored by 1 GB of FIL full storage arithmetic. FIL, the blockchain’s native crypto asset, is the 31st largest digital currency by market capitalization, and its value has risen 18% against the U.S. dollar in the past 30 days. However, its current price is 98% lower than its all-time high of $236 per unit, recorded on April 1, 2021. Over the past day, the price of FIL has ranged from $4.25 to $4.56 per coin.
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