Bitmain, a Bitcoin mining company, has officially launched the Antminer T21, an air-cooled Bitcoin mining machine capable of operating in high-temperature environments. Shipping is expected to begin in January 2024. The Antminer T21 features improved energy efficiency, with a power consumption of 19 Joules per terahash (J/TH) and a processing power of 190 terahash per second (TH/s). This is more energy efficient than its predecessor Bitcoin miner, the S21 Hyd, which had a power consumption of 16.0 J/TH per terahash. The Antminer T21 is compatible with the SHA256 mining algorithm, which is used for mining proof-of-work cryptocurrencies such as Bitcoin, Bitcoin Cash, and Bitcoin SV. Bitmain has introduced a price protection program for pre-order buyers to compensate if the price of Bitcoin drops. The protection plan is valid until November 25, 2023. Bitmain’s Antminer T21 global launch event took place at the Blockchain Life 2023 forum in Dubai. Despite its success, Bitmain has faced internal challenges, including a power struggle between co-founders Jihan Wu and Ketuan Zhan. They eventually reached a settlement in 2021, with Wu Jihan resigning and selling his holdings to Zhan Ketuan for US$600 million. Recently, Bitmain has faced financial challenges, including negative operating cash flow in September 2023 and delays in paying employee salaries. Some employees reported that their performance-based September salaries were suspended and part of their base salary was deducted. Unpaid wages and year-end bonuses have not been paid in 2022 as of October 8, 2023, making the schedule for these payments uncertain.
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