• News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT
  • Metaverse
  • Analysis
  • Learn
  • Videos
  • Blogs
  • Market Cap
  • Shop
What's Hot

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Historic Crypto Approval = New Bitcoin High Soon

2025-07-22

Altseason Ignites: Bitcoin Inflows, ETH Flip, and Saylor’s Bold Move

2025-07-22

Subscribe to Updates

Get the latest creative news from FooBar about art, design and business.

Facebook Twitter Instagram
Crypto Investor News Network
  • News
    • Bitcoin
    • Altcoins
    • Blockchain
    • DeFi
    • Regulation
    • Scams
  • NFT

    All Eyes on Art: Upcoming Collections to Watch the Week of February 4

    2025-02-05

    Creator of rabbit AI assistant has hidden NFT past

    2024-05-02

    Ethereum tops daily NFT sales at US$7 mln, ends weakest month of 2024

    2024-05-02

    Top NFT Airdrops and Giveaways for May 2024

    2024-05-02

    Casio Launches NFT Collection Celebrating 50th Anniversary

    2024-05-01
  • Metaverse

    Shib: The Metaverse – Part of the Expanding Shiba Inu Ecosystem

    2025-01-03

    Experience to Earn: Everdome’s Metaverse Frontier

    2024-12-30

    Beyond Bots: Meta Motivo and the Dawn of Humanlike Digital Life

    2024-12-13

    Exploring NetVRk: What Is Behind This AI-Driven Virtual Universe?

    2024-10-28

    Council of Europe Highlights Metaverse’s Impact on Privacy and Democracy

    2024-09-05
  • Analysis

    Crypto Exchange Coinbase Lists New DeFi Altcoin Project Built on Base Blockchain

    2023-12-13

    Ethereum Price Bears Keep Pushing, Why Decline Isn’t Over Yet

    2023-12-13

    Trader Bullish on Cosmos (ATOM), Says One Dogecoin Rival Setting Up for Next Leg Up – Here’s His Outlook

    2023-12-13

    AVAX Price Pumps 50% and Dumps 15%, Why Uptrend Is Still Strong

    2023-12-13

    Top Trader Predicts Parabolic Rally for Solana Competitor – Here’s His Upside Target

    2023-12-13
  • Learn

    What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

    2025-07-25

    What Is Copy Trading in Crypto? A Beginner’s Guide

    2025-07-10

    A Step-by-Step Guide for Risk-Takers

    2025-07-09

    What is Spot Trading in Crypto? A Beginner’s Guide to How It Works

    2025-07-09

    How It Works and What to Watch Out For

    2025-07-09
  • Videos

    Historic Crypto Approval = New Bitcoin High Soon

    2025-07-22

    Altseason Ignites: Bitcoin Inflows, ETH Flip, and Saylor’s Bold Move

    2025-07-22

    Salty No-Coiner Hates Bitcoin

    2025-07-22

    Bull Run Kickoff – Bitcoin and Crypto Set to Soar

    2025-07-22

    Something BIG is About To Go Down…Got Bitcoin?

    2025-07-22
  • Blogs
  • Market Cap
  • Shop
Facebook Twitter Instagram TikTok
Crypto Investor News Network
Home»Altcoins»Monero: A new miner, growing concerns and the current state of the XMR token
Altcoins

Monero: A new miner, growing concerns and the current state of the XMR token

2023-08-28No Comments3 Mins Read
Facebook Twitter Pinterest LinkedIn Tumblr Email
Share
Facebook Twitter LinkedIn Pinterest Email


  • Bitmain has announced the launch of the first professional XMR miner.
  • While XMR’s value has dropped by double digits in the last month, a rebound might be imminent.

The world’s leading manufacturer of cryptocurrency mining servers Bitmain has announced the launch of its latest product, the Antminer X5, dubbed the first professional Monero [XMR] miner.

🤩The latest #ANTMINER #X5 is coming!
👉The first professional #XMR Miner, pioneering XMR Mining!

212K
1350W
6.37J/K

⭐️ Guess the price of X5 from Aug 28th-31st!

🎁Price difference within 5% will reward $1,000 coupon; within 10% will reward $500 coupon! pic.twitter.com/kQQKZ9NtCX

— BITMAIN (@BITMAINtech) August 27, 2023

According to its announcement, the Antminer X5 has a hashrate of 212 kilo hashes per second (KH/s) and consumes 1,350 watts of power. Built to be one of the most powerful XMR miners available on the market, Bitmain confirmed that the Antminer X5 has a power efficiency of 6.37 joules per kilo hash (J/KH).


Read Monero’s [XMR] Price Prediction 2023-24


The XMR mining community is not thrilled

Following Bitmain’s announcement, members of the XMR mining community took to Reddit to air their concerns. As gleaned from posts made on the r/monero Reddit forum, XMR miners were concerned about the recent development of application-specific integrated circuits (ASICs) for mining the altcoin. 

ASICs are specialized hardware that can mine cryptocurrencies much more efficiently than general-purpose hardware like Central Processing Units (CPUs) and Graphics Processing Units (GPUs). This means that if ASICs become widely adopted for mining XMR, it could lead to a centralization of mining power in the hands of a few large mining operations.

See also  Telegram Trading Bot Unibot Suffers $640,000 Exploit Against Token Approval Contract: Peckshield

The Monero community has a long history of resisting ASIC mining. In 2019, the Monero network underwent a hardfork to implement a new mining algorithm called RandomX. RandomX was designed to be ASIC-resistant, making it difficult for ASICs to mine XMR efficiently.

However, with the Antminer X5 set to flood the market in a few days, ASIC manufacturers have figured out a way to develop ASICs that can mine XMR using RandomX.

XMR requires a pick-me-up

At press time, the altcoin exchanged hands at $146.19, according to data from CoinMarketCap. In the last month, XMR’s value has decreased by 10%. 

Source: CoinMarketCap

Interestingly, the price decline has occurred despite the significantly positive market sentiment that has trailed the token.

Source: Santiment

On a D1 chart, XMR accumulation has slowed. Under their respective center lines, XMR’s Relative Strength Index (RSI) and Money Flow Index (MFI) were 43.51 and 43. 36 as of this writing. This suggested that XMR distribution outweighed accumulation among daily traders.

However, while XMR’s price dwindled in the last month, its Chaikin Money Flow (CMF) indicator initiated an uptick. The Bollinger Bands also suggested that the token was “oversold.”

Source: XMR/USDT on TradingView

concerns Current growing Miner Monero State Token XMR
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Worst Bitcoin Miner In America?

2025-07-14

Why Monero Is The ULTIMATE Privacy Coin

2025-07-06

⚡ SPX6900 + Token 6900 = 100x Potentie? | Volgende Meme Coin Gekte?

2025-07-01

THE NEXT SPX6900 IS HERE! TOKEN 6900 WILL 100X!! NEXT 100X CRYPTO ICO!

2025-06-30
Add A Comment

Leave A Reply Cancel Reply

Top Posts
NFT

Canon To Launch NFT Marketplace

2023-04-14

NFT Canon USA, the US division of the global camera and imaging giant, has announced…

Videos

Crypto’s Dark Secret Exposed: Why 75% of Investors FAIL!

2024-12-08

The crypto market is heating up fast, and this has many people looking to make…

Analysis

Analyst Says DeFi Altcoin Gearing Up To Revisit All-Time Highs, Updates Outlook on Solana, Cardano and Polkadot

2023-11-20

A closely followed crypto analyst says that one decentralized finance (DeFi) altcoin is setting the…

Subscribe to Updates

Get the latest news and Update from CINN about Crypto, Metaverse and NFT.

Editors Picks

What are Decentralized Autonomous Organizations (DAO)? The Pros, Cons, and Real-World Examples

2025-07-25

Historic Crypto Approval = New Bitcoin High Soon

2025-07-22

Altseason Ignites: Bitcoin Inflows, ETH Flip, and Saylor’s Bold Move

2025-07-22

Salty No-Coiner Hates Bitcoin

2025-07-22
Crypto Investor News Network
Facebook Twitter Instagram TikTok
  • Contact
  • Terms & Conditions
  • Privacy Policy
  • DMCA
  • Disclouser
© 2025 - All rights are reserved.

Type above and press Enter to search. Press Esc to cancel.

bitcoin
Bitcoin (BTC) $ 115,672.99
ethereum
Ethereum (ETH) $ 3,626.94
xrp
XRP (XRP) $ 3.03
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 764.91
solana
Solana (SOL) $ 178.02
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.224338
staked-ether
Lido Staked Ether (STETH) $ 3,621.84
tron
TRON (TRX) $ 0.31524
bitcoin
Bitcoin (BTC) $ 115,672.99
ethereum
Ethereum (ETH) $ 3,626.94
xrp
XRP (XRP) $ 3.03
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 764.91
solana
Solana (SOL) $ 178.02
usd-coin
USDC (USDC) $ 1.00
dogecoin
Dogecoin (DOGE) $ 0.224338
staked-ether
Lido Staked Ether (STETH) $ 3,621.84
tron
TRON (TRX) $ 0.31524