Latest news with #ASIC
Forbes
a day ago
- Business
- Forbes
Bitmain Reveals The Antminer S23, The Most Powerful Bitcoin Miner Ever
The Antminer S23 reveal at Bitmain's 2025 World Digital Mining Summit in Las Vegas Bitmain, the leading manufacturer of bitcoin mining computers, just launched the Antminer S23, the most powerful and efficient bitcoin miner model yet. The company unveiled the Antminer S23 series at its World Digital Mining Summit in Las Vegas this week. The Antminer S23 comes in three flavors: an air-cooled, water-cooled, and immersion-cooled model. An Antminer S23 Hydro on display at Bitmain's World Digital Mining Summit In bitcoin mining industry parlance, bitcoin mining computers are called 'ASIC miners' for their use of the ASIC chips that are commonplace in consumer electronics. Traditionally, the vast majority of ASICs are air-cooled, meaning they use fans installed on the device to cool the ASIC chips that power the computer's computations. However, hydro and immersion ASIC miner models, which use water or special-purpose oil to chill their chips, have become increasingly popular as mining cooling solutions have matured. The air-cooled S23, water-cooled S23 Hydro, and immersion-cooled S23 IMM respectively produce 318 terahashes-per-second (TH/s), 580 TH/s, and 368-442 TH/s. The S23 and S23 IMM operate with a power efficiency of 11 watts-per-terahash (W/TH), and the S23 Hydro operates at 9.5 W/TH, making it the first ASIC bitcoin miners to achieve a W/TH efficiency below 10. (The computing power – called hashrate – for ASIC bitcoin miners is measured in terhashes-per-second, so a 318 TH/s miner produces 318 trillion hashes per second in pursuit of mining the next block in Bitcoin's blockchain; watts-per-terash measures how many watts of electricity an ASIC miner consumes per terahash produced, so a 318 TH/s miner that consumes 11 W/TH draws 3,498 watts). For reference, the Antminer S23 produces 69% more hashrate and is 41% more power efficient than the Antminer S21, the second most recent Bitmain ASIC miner model that the company released in September 2023. In an effort to stimulate demand in a wan market, Bitmain is offering payment installments. Bitmain will begin shipping the Antminer S23 series in Q1 2026. Bitmain has historically had the upper-hand when negotiating prices with mining clients, but compressed profit margins following the April 2024 block reward halving – and in increase in import costs from the Trump Administration's tariff regime – has flipped a seller's market into a buyer's market. To address rising costs from tariffs, Bitmain VP Irene Gao said during the Antminer S23 launch that Bitmain is working to expand its manufacturing capabilities in the United States. The company established its first U.S.-based production line in December 2024. Bitmain's Antminer computers utilize TSMC's cutting-edge ASIC chips. These ASICs are manufactured in Taiwan, but Bitmain assembles the Antminers in other countries, primarily Malaysia. The bulk of ASIC miner fabrication from Bitmain and its competitors occurs in Malaysia, Thailand, and Indonesia, all of which are subject to 10% tariffs following Trump's 90-day pause of its reciprocal tariff schedule on April 3. Should the 10% tariffs lapse and the Trump Administration institutes its original tariff policy on these countries, U.S. bitcoin miners could face 24-36% duties on ASIC miners imported from their primary manufacturing hubs. Despite bitcoin's rise above $100,000, mining margins are thin following the April 2024 halving, which reduced the bitcoin per block awarded to miners from 6.25 to 3.125 BTC. Now, tariffs are hiking capital expenditure costs for the hardware at the heart of bitcoin mining. The U.S. Court of International Trade recently ruled that Trump's tariff schedule is unconstitutional, but the Trump Administration is challenging this ruling, and an appeals court ruled that the tariff policy may resume until the case has been settled.
Yahoo
3 days ago
- Business
- Yahoo
Susquehanna Raises Broadcom (AVGO) Price Target, Keeps Buy Rating
On May 29, Susquehanna raised the price target on Broadcom Inc. (NASDAQ:AVGO) from $250 to $280, keeping its Buy rating on the stock. Christopher Rolland from Susquehanna increased the price target on AVGO after reviewing the company's custom silicon AI chips prospects, fueled by the growing AI infrastructure market. Rolland sees the continuation of AI networking momentum and solid core semiconductor business to be key for Broadcom. A technician working at a magnified microscope, developing a new integrated circuit. The analyst expects Broadcom to deliver earnings in line with or slightly better than expectations, driven by ongoing AI momentum and further optimization of its VMware portfolio. Wall Street expects the company to post Q2 2025 earnings to grow by 43% year-over-year to $1.57 per share, while revenue is estimated to rise about 16% to $14.65 billion. The company is scheduled to report its quarterly results on June 5, 2025. The demand environment remains strong, especially fueled by hyperscalers such as Meta increasing their AI investments. Rolland mentioned that this bodes well for Broadcom's networking and custom silicon segments. Moreover, Broadcom's competitive positioning in DSPs and PCIe retimers, along with its robust ASIC momentum, supports a positive outlook. The analyst believes that the transition of VMware customers to subscriptions will provide a sustained boost, supported by Broadcom's integration strategy. Broadcom Inc. (NASDAQ:AVGO) is a global technology firm that designs and manufactures various semiconductors, enterprise software, and security solutions. The company has two segments including semiconductor solutions and infrastructure software. While we acknowledge the potential of AVGO to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than AVGO and that has 100x upside potential, check out our report about this cheapest AI stock. Read Next: and . Disclosure. None. Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Sydney Morning Herald
3 days ago
- Business
- Sydney Morning Herald
Bikie gang uses Canberra safe haven to infiltrate construction industry
Several gangs, including the Finks, Hells Angels and the Comancheros have significantly expanded their presence in Canberra over the past few years. Bilal, who legally changed his name to Tony Soprano in 2002 before switching back in 2012, has registered at least two suspected 'straw directors' to Safe Hands Group, including an associate of the Finks, in documents filed with the Australian Securities and Investments Commission (ASIC). Safe Hands Group has expanded its business to include traffic management, professional cleaning, office management, and the provision of security services to building sites and public events. 'At Safe Hands Group, we tailor our labour hire solutions to meet the unique needs of every client ... we provide flexible staffing from a single team member to an entire workforce,' the business' claims on its website. Bilal was the original director of Safe Hands 002 Pty Ltd in June 2020, before he was replaced by his partner, Chloe Bilal, in December 2021. Finks associate Branden Jones, 26, then replaced Chloe Bilal in August 2023, and remained director until the company was placed into liquidation in April last year owing almost $894,000 in 'outstanding tax lodgements' to the Australian Tax Office. Several images obtained by this masthead reveal Jones wearing Finks merchandise and socialising with patched members of the gang. The liquidator for Safe Hands 002 Pty Ltd, Jonathon Colbran from RSM, expressed concern about the continued involvement of Bilal and his wife in the business. 'I have discerned that the former directors [Ali and Chloe Bilal] have exerted considerable financial and managerial control over the company until its cessation,' Colbran said in a statutory report to creditors in July last year. However, Colbran's investigation into the collapse of the business has been hampered by Jones' failure to comply with his director's duties. 'I am yet to receive a completed Report on Company Activities and Property nor receive any books and records from the current director,' said Colbran, who has reported Jones to ASIC over the matter. Before Safe Hands 002 Pty Ltd was placed into liquidation, another company named Safe Hands Group Pty Ltd was registered in February 2023. The company lists the director and owner as Jelena Brozinic, who has been employed by Bilal for more than a decade, including at a now-defunct hospitality business called London Burgers. This masthead has been told by the Finks gang associate that assets and clients were transferred between the two companies in an alleged case of 'phoenixing'. SMS messages appear to confirm Bilal's involvement in the company. When asked about the company's operations, an ASIC spokesman said it was 'monitoring the situation'. An ATO spokeswoman said it was 'unable to comment due to our obligations under taxpayer confidentiality laws'. According to the ATO website, the annual economic impact of illegal phoenix activity on businesses, employees, and government is estimated to be $4.89 billion. The ASIC website cites an independent report which claims phoenixing costs the government about $1.6 billion in unpaid taxes. Bilal did not respond to phone calls or an SMS from this masthead. Brozinic and Jones also did not respond to requests for comment. Bilal has previously denied his involvement with the Finks and Rebels bikie gangs. However, police officers made submissions in the ACT Supreme Court, the ACT Magistrates' Court and the Greyhound Welfare and Integrity Commission claiming the 53-year-old was a senior figure in the ACT chapter of the Finks outlaw motorcycle gang. Detective Sergeant Owen Patterson, from the anti-bikie Taskforce Nemesis, said in court in April that Bilal was previously a leader of the ACT Rebels, which disbanded and became the 'All Brothers Crew', or the Ali Bilal Crew in late 2022 or early 2023. Patterson told the court that members then eventually 'patched over' to the Finks in 2023, and that Bilal was believed to have been appointed 'world president' of the gang. In February last year, a greyhound hearing was provided with an email from NSW Police constable Mitchell Clark, who confirmed officers attended Bilal's property in Wollogorang, about 60 kilometres north-east of Canberra. The police were conducting a compliance inspection for a firearm prohibition order served on Bilal, who was not home at the time. But police, according to Clark's email, were confronted by two other members of the Finks, one of whom was charged with assaulting an officer. 'Police located numerous items of interest in the main dwelling, including what is believed to be performance enhancing drugs and steroids... A Finks OMCG vest was in the wardrobe of the main bedroom, this is believed to belong to Ali Bilal. Ali Bilal is the president of the Finks OMCG interstate chapter and resides at this address,' Clark said in the email on September 27, 2023. In 2022, Bilal was sentenced to three months in prison after pleading guilty to five charges relating to using a carriage service to harass or threaten, after his conversations were captured by telephone intercepts. In one recording played to the ACT Magistrates' Court, Bilal ordered a woman to arrange a meeting with an unnamed man. Loading 'Get him to meet me. That's it,' Bilal yelled. 'I'm gonna f--- him, his mother, his father. I'm not gonna leave anybody tonight.' In another conversation, Bilal demanded to know the location of another man. 'We'll come to the site where you are now, and we'll deal with you in public in front of everybody to finally make a statement in this town. 'I'm happy to go to jail for it. Let's not f--- around any more,' the then 50-year-old said in the recording. Despite being sentenced to prison for behaviour Chief Magistrate Lorraine Walker described as 'manipulative aggression', Bilal was able to set up a new company with ASIC in February named Hostile Takeovers Pty Ltd, which lists him as sole director and owner. In 2012, Bilal was charged with possession of steroids. But because he had changed his name by deed poll in 2002 to Tony Soprano, officers decided to charge both Bilal and Soprano with three counts of steroid possession. When the matter proceeded to court, Bilal's lawyer said his client had reverted to his original name, which prompted prosecutors to drop the charges against Soprano. The case against Bilal also collapsed when the prosecution offered no evidence.
The Age
3 days ago
- Business
- The Age
Bikie gang uses Canberra safe haven to infiltrate construction industry
Several gangs, including the Finks, Hells Angels and the Comancheros have significantly expanded their presence in Canberra over the past few years. Bilal, who legally changed his name to Tony Soprano in 2002 before switching back in 2012, has registered at least two suspected 'straw directors' to Safe Hands Group, including an associate of the Finks, in documents filed with the Australian Securities and Investments Commission (ASIC). Safe Hands Group has expanded its business to include traffic management, professional cleaning, office management, and the provision of security services to building sites and public events. 'At Safe Hands Group, we tailor our labour hire solutions to meet the unique needs of every client ... we provide flexible staffing from a single team member to an entire workforce,' the business' claims on its website. Bilal was the original director of Safe Hands 002 Pty Ltd in June 2020, before he was replaced by his partner, Chloe Bilal, in December 2021. Finks associate Branden Jones, 26, then replaced Chloe Bilal in August 2023, and remained director until the company was placed into liquidation in April last year owing almost $894,000 in 'outstanding tax lodgements' to the Australian Tax Office. Several images obtained by this masthead reveal Jones wearing Finks merchandise and socialising with patched members of the gang. The liquidator for Safe Hands 002 Pty Ltd, Jonathon Colbran from RSM, expressed concern about the continued involvement of Bilal and his wife in the business. 'I have discerned that the former directors [Ali and Chloe Bilal] have exerted considerable financial and managerial control over the company until its cessation,' Colbran said in a statutory report to creditors in July last year. However, Colbran's investigation into the collapse of the business has been hampered by Jones' failure to comply with his director's duties. 'I am yet to receive a completed Report on Company Activities and Property nor receive any books and records from the current director,' said Colbran, who has reported Jones to ASIC over the matter. Before Safe Hands 002 Pty Ltd was placed into liquidation, another company named Safe Hands Group Pty Ltd was registered in February 2023. The company lists the director and owner as Jelena Brozinic, who has been employed by Bilal for more than a decade, including at a now-defunct hospitality business called London Burgers. This masthead has been told by the Finks gang associate that assets and clients were transferred between the two companies in an alleged case of 'phoenixing'. SMS messages appear to confirm Bilal's involvement in the company. When asked about the company's operations, an ASIC spokesman said it was 'monitoring the situation'. An ATO spokeswoman said it was 'unable to comment due to our obligations under taxpayer confidentiality laws'. According to the ATO website, the annual economic impact of illegal phoenix activity on businesses, employees, and government is estimated to be $4.89 billion. The ASIC website cites an independent report which claims phoenixing costs the government about $1.6 billion in unpaid taxes. Bilal did not respond to phone calls or an SMS from this masthead. Brozinic and Jones also did not respond to requests for comment. Bilal has previously denied his involvement with the Finks and Rebels bikie gangs. However, police officers made submissions in the ACT Supreme Court, the ACT Magistrates' Court and the Greyhound Welfare and Integrity Commission claiming the 53-year-old was a senior figure in the ACT chapter of the Finks outlaw motorcycle gang. Detective Sergeant Owen Patterson, from the anti-bikie Taskforce Nemesis, said in court in April that Bilal was previously a leader of the ACT Rebels, which disbanded and became the 'All Brothers Crew', or the Ali Bilal Crew in late 2022 or early 2023. Patterson told the court that members then eventually 'patched over' to the Finks in 2023, and that Bilal was believed to have been appointed 'world president' of the gang. In February last year, a greyhound hearing was provided with an email from NSW Police constable Mitchell Clark, who confirmed officers attended Bilal's property in Wollogorang, about 60 kilometres north-east of Canberra. The police were conducting a compliance inspection for a firearm prohibition order served on Bilal, who was not home at the time. But police, according to Clark's email, were confronted by two other members of the Finks, one of whom was charged with assaulting an officer. 'Police located numerous items of interest in the main dwelling, including what is believed to be performance enhancing drugs and steroids... A Finks OMCG vest was in the wardrobe of the main bedroom, this is believed to belong to Ali Bilal. Ali Bilal is the president of the Finks OMCG interstate chapter and resides at this address,' Clark said in the email on September 27, 2023. In 2022, Bilal was sentenced to three months in prison after pleading guilty to five charges relating to using a carriage service to harass or threaten, after his conversations were captured by telephone intercepts. In one recording played to the ACT Magistrates' Court, Bilal ordered a woman to arrange a meeting with an unnamed man. Loading 'Get him to meet me. That's it,' Bilal yelled. 'I'm gonna f--- him, his mother, his father. I'm not gonna leave anybody tonight.' In another conversation, Bilal demanded to know the location of another man. 'We'll come to the site where you are now, and we'll deal with you in public in front of everybody to finally make a statement in this town. 'I'm happy to go to jail for it. Let's not f--- around any more,' the then 50-year-old said in the recording. Despite being sentenced to prison for behaviour Chief Magistrate Lorraine Walker described as 'manipulative aggression', Bilal was able to set up a new company with ASIC in February named Hostile Takeovers Pty Ltd, which lists him as sole director and owner. In 2012, Bilal was charged with possession of steroids. But because he had changed his name by deed poll in 2002 to Tony Soprano, officers decided to charge both Bilal and Soprano with three counts of steroid possession. When the matter proceeded to court, Bilal's lawyer said his client had reverted to his original name, which prompted prosecutors to drop the charges against Soprano. The case against Bilal also collapsed when the prosecution offered no evidence.
Yahoo
3 days ago
- Business
- Yahoo
Russian Police Arrest Suspect in $3.2M Illegal Mining Operation: Report
Russia police arrested a person alleged to have been involved in a crypto mining scam that stole 270 million rubles ($3.2 million) from 100 victims, RBC reported, citing a statement from the Ministry of Internal Affairs for the Irkutsk Region. A local resident called the police in February to say he handed an ASIC mining machine to someone claiming that they were running a "mining hotel," with the promise of passive income. The 26-year-old suspect and two accomplices are alleged to have sold the equipment they received and also to have kept funds handed over the purchase of other mining machines. The police opened a criminal case of fraud against the suspect and continue to question the victims. The other members of the mining group are still wanted by authorities, the statement said. A similar case occurred in 2022 when two people stole 2 million rubles after offering local citizens a fake mining hosting scheme.
