When it comes to Bitcoin mining, a few choice firms take center stage while others get pushed behind the curtains either due to a lack of marketability or an already established market share by older players which proves to be difficult to penetrate.
Even in the midst of all this, a few companies make their way into this competitive space in order to prove their mettle against firms that are synonymous with Bitcoin and cryptocurrency mining.
And sometimes, those efforts involve bold claims that have the potential to garner the attention of hundreds and thousands of entities that are associated with the world of cryptocurrency.
This phenomenon was effectively demonstrated by Halong Mining, who during the cryptocurrency boom in the last quarter of 2017 announced that it will be bringing along SHA-256/Bitcoin miners that will outshine every other available equipment in the market.
That claim, which came to surface in November 2017, was met with a mix of excitement and skepticism through the cryptocurrency community, as it wanted to see the claim coming to life while also not believing that a company which was as new as Halong Mining could disrupt a market that had long been dominated by the likes of Bitmain.
The anticipation was further fuelled by the announcement from tech giant Samsung that it was producing ASIC chips for Halong Mining. That revelation came very close to the actual release of Halong Mining’s first rumored product, and it did not only increase the sense of fervor around the hype but also added the kind of credibility that could only come with the name of a company as renowned as Samsung.
When everything was said and done, there came the time to unveil the hyped invention, which was dubbed as the DragonMint T1.
What was the verdict, you ask?
Here it is for you in a detailed format, how the Halong DragonMint T1 compares to its most relevant counterpart, the Bitmain Antminer S9.
So How is DragonMint T1 as a Miner?
Being a collaboration between Halong Mining and Drak, a Bitcoin Core developer, the ASIC-powered DragonMint T1 with DM8575 chips came off as a powerhouse in its April 2018 release.
Boasting of specifications including a hash rate of 16 TH/s and a new technology that throttles the usage of an already efficient ASIC mechanism, the mining unit quickly revealed itself as being able to hold its own against machines that were already popular and widely used throughout the world.
Apart from the impressive hash rate, the DragonMint T1 comprises of a 1600W power supply unit (PSU) which uses an IEC C13 AC cable. The unit also sports certifications including FCC, EMC, LVD, and CE, but the company mentions that it does not have any plans on the horizon for UL certifications.
With Great Power, Comes Great Temperature Control
Since the miner has such a strong profile in its hash rate, it is bound to need some temperature control to keep itself cool during its most strenuous functions – which would come sooner than later on each Bitcoin mining session, seeing how the Bitcoin network’s rate of difficulty fluctuates from time to time, leaving even the most efficient of equipment in struggle to meet them.
To ensure that it does not go over its ambient temperature of 77 degrees Fahrenheit, the DragonMint T1 has two 1480W fans at 240V, with each fan being 9 blade variable 4560 rpm (which is described as being equivalent to 6000 rpm) at 100W.
These fans have an airflow of 206 CFM, which makes them quite capable of pulling off the task for which they have been installed in the unit.
How is the Power Consumption on DragonMint T1?
The power consumption on the DragonMint T1 gets to be very efficient, thanks to the aforementioned AsicBoost technology which allows maximum productivity with minimal wastage of energy resources.
This is especially notable given the massive hash rate of the unit, which is never compromised during its operations.
The recorded power consumption on the miner gets to be around 0.075 J/GHS or 1480W from the wall, which as compared to Antminer S9’s 1300 W using most PSUs is a significant difference, given the variance in their hash rates and overall efficiency.
How to Setup the DragonMint T1 with a Power Supply
While any power supply with a 220-240V would work, it is strongly recommended for DragonMint T1 users to utilize the DragonMint 1600W PSU.
Since a PSU is not provided with the miner itself, users have to get a PSU or use one that they already have. But the risks that come with using another PSU is that they might not get the same power efficiency as the one that has been recorded with the use of the DragonMint 1600W PSU.
Therefore, it is best to spend a little more funds and invest in a PSU that would provide you with notable savings in the long run rather than backing away from setting up the miner optimally at first, only to end up having to spend more money on electricity bills down the road.
What is the Profitability on DragonMint T1?
After numerous tests and checking recorded statements from various other users, it is safe to say that DragonMint T1 does seem to stay true to its bold claims of being the best mining equipment currently available in the market.
While supporters of Bitmain may say otherwise and hold up the cheaper Antminer S9 which is currently going for $800-1000, the stats for DragonMint T1 even at a higher price remain strong, with the price of $2700 being justifiable due to what it brings to the table for its users.
For instance, we calculated the profitability ratio given the current low price of Bitcoin that is being traded at $6,572, along with the average KW/h electricity rate of $0.12. Even though the ledger showed in red, the statistics provided still show DragonMint T1 as returning an impressive rate.
Given that Bitcoin’s price starts ascending again, it would have the following effects on the DragonMint T1’s profitability.
Simply put, the DragonMint T1 has all the makings of a great miner that can provide its users with a wonderful return-on-investment (ROI). However, even after beating the much more famous Antminer S9, the DragonMint T1 is only as good as the cryptocurrency that it can mine, and thus its success depends upon the value of Bitcoin.