2023-07-23
On
July 20, 2023. Bitmain, one of the most famous cryptocurrencies mining rig manufacturers
launches mining rigs designed specifically to mine FIL, the native token of Filecoin. The price of a Filecoin mining rig cost $38,888.
Filecoin
uses proof-of-replication and proof-of-spacetime to resist normal ASIC miners.
However, Bitmain could be able to develop ASIC mining rigs designed for mining
FIL.
Filecoin
has a fully diluted market cap of $8.851 billion. 70% of FIL tokens are for
mining. As of July 22, 2023: Filecoin has a total supply of 1,961,760,486 FIL
and it has a circulating supply of 437,346,249 FIL. About 1,524,414,237 FIL are not circulating in the market yet.
Looking from the valuation of Filecoin,
it is overvalued. Its fully diluted market cap is on par with Polygon. Polygon is a blockchain
ecosystem. Whereas FIL, the native token of Filecon is only a utility token
uses for payment for Filecoin’s blockchain storage.
Filecoin might be worth mining. First it
is overvalued, mining FIL could be profitable. Second, a lot of FIL available for mining, miners can mine FIL in long-term.
Filecoin
mining rigs are available for sale at
