Cicc: focus on the boost to semiconductor demand from rising bitcoin prices
Cicc industry research todayPublished reports, focusing on the bitcoin price rise on semiconductor demand pull.
On May 12, 2019, bitcoin returned to $7,000 after an eight-month hiatus. Historically, bitcoin prices have been volatile, reaching a high of nearly $20,000 in December 2017. In December 2018, the currency went as low as $3,100, less than the $3,900 that a typical miner ant S9 would have paid for a shutdown. Currency price fluctuations directly affect the development of cryptocurrency-related semiconductor industry chain. We believe that if the currency continues to rise, it will have a significant impact on global semiconductor demand. & have spent & have spent
& have spent Virtual currencies are one of the main demand in the global semiconductor industry.
At present, major cryptographic assets such as bitcoin and ethereum are used for competitive bookkeeping in the form of workload proof (PoW) such as hash operation. In order to obtain better performance, bitcoin, bitcoin cash and bitcoin SV mainly use ASIC mining machines with advanced manufacturing processes of 14nm and below to mine. However, the etheric currency community believes that ASIC mining is unfair and adjusts the algorithm to limit the mining performance of ASIC. Therefore, GPU is the main mining method for etheric currency.
And we noticed,Bitcoin is up more than 120 percent since its low point in 2018/12, while its online computing power is up 32 percent.
We believe that as the currency price recovers, the network computing power will continue to increase, driving the demand of related semiconductor industry chain.
& have spent Mining machine iterative chase the latest process, miners return to the cycle will be greatly shortened.
The benefits that miners can obtain in a certain period of time are related to the cost of miners, the cost of electricity, the calculation force of the whole network, the calculation force of miners, the currency price and other factors. In order to obtain higher computing power, mining machine chips generally adopt the most advanced semiconductor manufacturing technology for production, along with smart phone chips, AI chips become one of the world's most advanced semiconductor technology users. The typical miner ant S9 (16nm) has a computational force of 13.5th /s, while the newest ant S17 (7nm) has a computational force of up to 53TH/s.
In addition, higher currency prices, as well as lower electricity prices during periods of high water, will shorten the miners' payback cycle. Taking ant S9 as an example, assuming that the calculation force of the whole network remains unchanged, our calculation results show that when the currency price is usd 4000, the miners return this cycle is about 381 days, and when the currency price is usd 7000, the miners return this cycle is about 93 days. The newest ant, S17, is relatively expensive. When the currency price is $7,000, the miner's return cycle is about 171 days.
Excerpt from "blockchain research: observing the effect of rising currency prices on semiconductor demand", published on 13 May 2019
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