When Halong Mining announced the Dragonmint T1 in November 2017, it promised the most efficient SHA-256 mining rig on the market, claiming it would be 30% more efficient than Bitmain's Antminer S9. Now that the first units have been delivered, independent reviews paint a more nuanced picture: the T1 does hash close to 16 TH/s, but its efficiency advantage over the S9 is minimal — certainly not enough to declare the S9 obsolete.
Samsung 10nm Chips and Cobra's Apology
On April 10, distributor Myrig tweeted that Samsung's semiconductor division supplies the 10-nm ASIC chips powering the Dragonmint T1. Samsung had revealed in January it was producing ASICs for an unknown Chinese mining manufacturer, but Halong's website never confirmed the 10nm claim. Earlier, Bitcoin.org co-owner Cobra had labeled Halong Mining a "scam," but after seeing delivered hardware, he apologized on April 13, admitting he was "completely wrong" and that the company delivered functional hardware as promised.
Performance Benchmarks: Close to 16 TH/s, but at a Cost
YouTuber Miner Digi published a video on April 11 demonstrating the T1 connected to Slush Pool via a Myrig 1600W PSU. The machine consistently achieved between 15.5 and 15.9 TH/s over an extended period, close to the stated 16 TH/s. In comparison, Antminer S9s typically hash between 13.2 and 14 TH/s. However, the first batch of T1 units cost $1,595 per unit (minimum five per order), while the S9 retails for $1,288. That’s a premium of over $300.
An in-depth review published on April 4 measured the T1 pulling approximately 1,480–1,497 watts at the wall while ramping to 14.98–15.97 TH/s. The same test showed the Antminer S9 consuming about 1,375 watts at 14 TH/s. This means the T1's wall‑power efficiency is only marginally better, if at all. The reviewer concluded that while the T1 uses overt version‑rolling ASIC Boost and may leverage Samsung 10nm silicon, its efficiency advantage is "not by a whole lot." The earlier claim of 30% higher efficiency appears to have been exaggerated.
Verdict: S9 Remains a Strong Contender
In real‑world conditions, the Dragonmint T1 offers slightly higher hashpower but at a higher price and power draw. For most miners, the Antminer S9 remains a cost‑effective and reliable option. Halong Mining may need to adjust pricing or improve yields in future batches to truly compete. All current batches are sold out, indicating demand, but the performance gap with marketing claims is a cautionary tale for the industry.