Bitmain users report defective products

Many users have complained about the Antminer S17+ stating that it is one of the company's most flawed productions.

Bitmain users report defective products

Less than a week after halving: problems with mining equipment

Arseniy Grusha, co-founder of Wattum, the US-based cryptocurrency mining and consulting firm, created a group on the Telegram platform called "Bitmain miners" that is made up of users of Bitmain, the largest cryptocurrency mining equipment maker in the world. In the Telegram group, many users have complained about the Antminer S17+ stating that it is one of the company's most flawed productions. On his LinkedIn page, Grusha, communicated to the public: "In case you have a similar problem, I have created a Telegram group where you can share your experience with the latest installments of these miners."

** Riot Blockchain, one of the largest cryptocurrency mining companies in the United States, has published its financial report for the first quarter of 2020 in which they reveal that the company records recurring losses and negative flows in its operations.

Grusha revealed that in March it received the delivery of 420 Antminer S17+ devices that was delayed by a month due to the problems caused by the COVID-19 pandemic in global supply chains. The businessman explained that 30% of the products purchased began to fail in less than a month and a half of use, far exceeding the average rate of defective miners, which is around 5% to 7% of the total. Grusha commented that he already had contact with Bitmain and they would be working to solve the problem, however Grusha explained: “But we still have 32% of the bad units. They should be shipped to China and as a result we lost money in mining before halving and [we will have to] wait two months for repair, which of course does not benefit us.”

** Luyao Liu, CEO and legal representative of Bitmain, was accused of attacking Micree Zhan, the company's co-founder.

Griid energy company chief technology officer Mike Hamilton shared his situation with the Telegram group: “We have around 700/1800 machines with at least 1 hashboard down after 3 months. Approximately 300/1800 with at least 2 hashboards down, and probably 150/1800 with all 3 hashboards and / or PSU failures."