The impressive S21 boasts a hashing speed of 200 terahashes per second (TH/s) and an efficiency of 17.5 joules per terahash (J/T). In comparison, the S21 Hydro races ahead with a hashing speed of 355 TH/s, but with a slightly better efficiency of 16 joules per terahash (J/T). To put this into perspective, the S21's performance is akin to having two S19 100T devices in tandem. Cointelegraph weighed in on these developments, highlighting, "In terms of efficiency, this represents a significant leap forward as most Bitcoin ASIC miners previously operated above the 20 J/T mark."
The topic of mining device performance and efficiency becomes even more critical as we approach the next 'halving', an event that slashes miners' rewards by half every four years. By April 2024, this reward will be a mere 3.125 BTC per block (every 10 minutes).
This means that for miners to stay afloat in an increasingly competitive environment, they'll not only need cost-effective energy sources but also top-notch mining equipment.
Efficiency and Sustainability
The main theme of the Hong Kong conference centered on the efficiency and sustainability of the entire Bitcoin mining industry, especially concerning its environmental footprint and ESG considerations.
During a panel discussion featuring representatives from prominent mining firms like Core Scientific, CleanSpark, Iris Energy, and Terrawulf, there was a consensus. The integration of renewable energy sources into Bitcoin mining is becoming increasingly crucial. Such energy is not just environmentally friendlier but often more cost-effective.
"There's a significant shift on the production side, with a concerted effort towards decarbonizing the entire supply chain. So, when we talk about Bitcoin miners tapping into more renewable energy sources, it's part of a broader narrative unfolding across the U.S. Our role in this transition? To localize Bitcoin mining in areas where this change is happening, facilitating the decarbonization process," commented Nazar Khan from Terrawulf.