Bitmain has launched a new cryptocurrency miner for mining privacy-focused digital coins like Zcash.

In the official announcement on March 19, the Chinese mining equipment manufacturer claimed that the new mining machine dubbed as Antminer Z11 has three times more hash rate than its predecessor Antminer Z9, which was launched around ten months ago.

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Bitmain’s Antminer Z series is designed and developed to mine equihash-based digital currencies including Zcash and ZenCash.

Mentioning the specifications of the crypto mining machine, the manufacturer detailed that the new device is capable of offering 135 KSol/s of hashing power. Moreover, the miner is also power efficient with an electricity consumption rate of 10.50 J/KSol – 60 percent more power efficient than Antminer Z9.

The miner is based on a newly designed internal circuit structure with the company’s latest proprietary 12nm chip and the updated design also makes it better for heat dissipation.

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Already in High Demand

As seen on Bitmain’s website, the Chinese miner has priced Antminer Z11 at $1,242 and already listed for pre-order, with tentative shipping date between April 20th and 30th. However, as of press time, the device is already sold out, indicating a great demand for the mining hardware even in the bear market.

The miner was launched at a time when there is an ongoing debate going on in the Zcash community whether to make the cryptocurrency ASIC resistant or not.

“To preserve the Zcash community’s values around security, reliability, and accessibility, Bitmain had previously Tweeted real-time updates to ensure more transparency and will continue to provide shipping updates of the first batch of the Antminer Z11,” the announcement stated.

“These commitments to transparency will continue to provide the Zcash foundation and community with the security, reliability and accessibility they desire of manufacturers.”

Last month, Bitmain launched a 7nm chip-based mining hardware designed for mining SHA256 algorithm-based proof-of-work cryptocurrencies including Bitcoin and Bitcoin Cash.

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Meanwhile, various financial reports of the company revealed that the crypto hardware leader has lost around half-a-billion Q3 2018. The company’s application for an Initial public offering (IPO) is also pending with the Hong Kong Stock Exchange, which is due to lapse on March 26.