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Bitmain compensation coupons to soothe irate Antminer buyers

Bitmain compensation coupons to soothe irate Antminer buyers

Bitmain compensation coupons for Antminer S17+ and T17+ models have been announced by the company for the bereaved customers. The renowned crypto ASIC (Application Specific Integrated Circuit) manufacturer was under overwhelming criticism for slashing prices immediately after the said models were launched. A lot of customers with overpriced crypto mining equipment were affected by the price cut which lowered their mining margins.

Customers who bought specific Antminer models between mid-February to late-April will be awarded compensation coupons. These Bitmain compensation coupons for Antminer S17+ and T17+ models will certainly put a smile on the angry customers who paid a fortune for these models.

How Bitmain compensation coupons work

The Bitmain compensation coupons are applicable only for customers who paid a higher price for their machines before the price cut kicked in, and their equipment was shipped after April 13. These consumers are now entitled to receive a compensation coupon of the appropriate amount. The coupon distribution will be completed by the last quarter of 2020.

The coupons are no-cashable and neither transferable to another person. Receivers can only use these coupons to avail deductions while buying Bitmain mining machines, and accessories from the company’s official website.

The Bitmain compensation coupons promise a maximum discount of 10 percent only on every purchase. Interestingly, once the coupon code has been entered, it will be considered spent even if the user completes the checkout process or not. Thus, coupon receivers must exercise caution while spending them.

ASIC mining rising despite opposition from crypto veterans

Crypto veterans have opposed ASIC mining since the early days of Antminer. Bitmain has been under criticism for commercializing the crypto industry on a vast scale. However, Bitmain dominates the crypto mining scene as it offers the average consumer the chance to complete with bigwigs using industrial-grade mining equipment at home.

Recently, Bitmain Antminer S19 models were sold out within minutes of launching on the official website. This event, too, created a backlash as the machines are expected to ship out after the Bitcoin halving in May 2020. This raises another question – are more Bitmain compensation coupons coming?

Gurpreet Thind

Gurpreet Thind

Gurpreet Thind is pursuing Masters in Electrical Engineering at University of Ottawa. His scholarly interests include IT, computer languages and cryptocurrencies. With a special interest in blockchain powered architectures, he seeks to explore the societal impact of digital currencies as finance of the future. He is passionate about learning new languages, cultures and social media.

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