Bitmain to pay compensation if Bitcoin falls sharply

Bitmain, a maker of mining equipment, has launched a volatility-protection mechanism for its clients, according to local media.

Within three months of purchasing an S19j XP installation, the company will pay compensation of $1.89 per TH of capacity if Bitcoin prices drop more than 20%.

Funds will be credited to the client’s balance and can be used to purchase any Bitmain products.

The program also applies to previously purchased installations of the same model.

Earlier, Bitmain announced a new flagship Antminer S21, which will support energy efficiency below 20 J/TH.