New Era Mining Summit Recap
Poolin, one of the world’s largest mining pools, has successfully conducted another edition of the New Era Mining Industry Summit.
The conference was held from the 21st to the 23rd of September at the Crowne Plaza Chengdu West, in Chengdu, Sichuan Province of China, the summit attracted just over 1,800 attendees. Out of these attendees over 100 very important members in the mining community also were in attendance.
For this 3rd edition of the summit, an impressive speaker list was put together. The likes of Yang Zuoxing (Co-founder of Whatsminer), Kong Jianping (Co-chairman of Avalon Miner), and Kevin Pan (CEO of Poolin) amongst many more thought leaders in the mining industry.
The first night was aimed primarily at the miners with an introduction by Poolin followed by dinner and drinks.
The next two days, the core of the conference had several companies in the industry that made an appearance including:
- Miner Manufacturers: Innosilicon, Avalon, Whatsminer, eBit
- Wallets: Bixin and Bitpie
- Exchanges: Gate.io
- Miners: Over 400 mining farm operators were present
New Era Mining Summit covered many themes important to miners around the globe:
A handful of these important themes were touched upon by our distinguished guest Yang Zuoxing of Whatsminer. He predicts that the price of bitcoin will reach a million dollars. Aside from this bullish prediction other key points Zuoxing touched upon were:
- The Whatminer’s chip production capacity will help Bitcoin reach a total hash rate of 120 ExaHashes
- Water and liquid cooling mining rigs to become mainstream by 2024
- The service time of a mining rig to increase from 3 years to 4.5 years
- 5G technology will create more demand for chip manufacturing which will in turn affect the production capacity of ASIC chips for mining rigs
Other prominent topics and presentations were also held by our distinguished guests:
Kong Jianping CEO of Avalon Miner, had a highly interesting talk about how blockchain is “The Beginning of a Trustable Silicon-Based Civilization Era”. Going on to say that he believes that the most strategic path for China’s technological advancement will be through investing in the development of computer chips and AI (artificial intelligence).
Jianping also reassured the market that Avalon remains at the helm of the mining rig-development market. The mining rigs now come in a smaller size, higher hash rate and lower power consumption. To make things fun and entertaining the CEO of Avalon Miner put on his Bitcoin jersey and told the crowd to believe and hold Bitcoin regardless of how hard it is to do so bringing in smiles from the crowd.
Wang Shenglin, Innosilicon’s Director of Sales topic was titled Catch the Opportunity of Bitcoin Halving with a Good Stock of Mining Rigs. We believe this to be an important thing to consider looking towards the future.
Technical talk by Poolin CEO on the new Mining Protocol:
The summit also had important technical developments in the mining industry such as the introduction of a new protocol solution for mining from Kevin Pan, Poolin CEO. Mr. Pan expounded on the Bitcoin Universal Mining Protocol or BUMP in his presentation:
“The protocol can reduce rejections, mining rigs can have hash rates immediately connected to the mining pool (without waiting), avoid malicious block reorganization, mining rig’s soft fork vote support, increase network SPV nodes, and make the network more stable and secure.” BUMP is an open-source protocol.
Aside from these topics above twelve other speeches and three panels were also conducted. A Proof of Work fire-chat was carried out in the morning sessions, while an overseas themed topic during the afternoon of both days.
The most awaited part of the event was indeed the awards ceremony where the organizing committee highlighted key companies in the industry. The awards ceremony is voted by the New Era Mining Industry organizing committee and selections are based on the companies accomplishments within the mining industry.
And the winners were:
- Ultimate Craftsman award: Avalon Miner, which produces 16nm rigs that have similar performance with more advanced chip technology
- New Era Pioneer award: Whatsminer, who developed a 68T hash rate mining rig, leading the daily mining profit for rigs in the industry
- Multi-leading award: Innosilicon, which possess outstanding performance in multi-cryptocurrency mining rigs like Zcash and Grin
As the mining industry continues to grow, the organizing committee of the New Era Mining Industry Summit alongside Poolin is proud to declare the event was deemed not only successful but educational. Creating a deeper connection with the mining community as a whole.