Beware of fakes: Experts warn of new Bitcoin miners

Deepak Gupta February 10, 2022
Updated 2022/02/10 at 12:34 PM

To be too good to be true? Yes. In which Bitcoin miner NuMiner NM440 is nothing more than a fake. He is said to be mining the cryptocurrency twice as fast as the current flagship of the market leader Bitmain, but is far more efficient. A CS-2 system from Cerebras serves as the basis for the renderings that NuMiner uses for its product.

Bitcoin miner raises questions

The release of the NuMiner NM440 is a “groundbreaking moment for bitcoin mining around the world.” At least that’s what the company claims in a recently published press release. Quoting Iain Kennedy, CEO of NuMiner Global.

“With the highest and most efficient hash rate in the industry, our commitment to sustainable bitcoin mining, and industry-leading suppliers, NuMiner is strategically and operationally positioned to scale rapidly and ultimately become the global bitcoin mining technology leader.”

Iain Kennedy

Just a few days ago, the Bitcoin miner was making waves in the industry. He appeared without much advance notice, but with considerable promises. Cerebras, from whose system the renderings for the presentation were copied, has already taken the first steps against NuMiner. The experts of the group point out the fake. “We are aware that a start-up crypto mining company is using a repurposed, altered image of the Cerebras CS-2 product for its own business purposes,” the company wrote on Twitter. “We are taking steps to improve the situation.”

NuMiner leaves questions unanswered

According to Crunchbase, NuMiner is headquartered in New York, USA, and Iain Kennedy appears to be a real person. This is indicated by a corresponding LinkedIn profile that goes back several years. In a press release, the Canadian cloud service provider Sphere 3D even confirmed that it had bought around 60,000 “next-generation bitcoin miners” from the company for USD 1.7 billion.

Golem.de reports that the NuMiner website was only registered in March 2021. The start-up also claims to be in partnership with well-known producers such as Foxconn and TSMC. There are still many unanswered questions. The fact is, however, that the company itself has so far been extremely opaque. The images it uses to promote its bitcoin miner are also fake.

Here you come to our crypto dictionary.

Sources: NuMiner Global; Twitter/@CerebrasSystems; crunch base; LinkedIn/Iain Kennedy; Sphere 3D; Golem.de

Share this Article
Leave a comment

Leave a Reply

Your email address will not be published. Required fields are marked *