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Not sure, but if you still need 10G you can get comparatively priced ($100 option vs $150 product) TB3<->10G adapters: https://www.sonnetstore.com/products/solo-10g

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Any idea why this is so large?

Could be worse, see https://www.amazon.com/CalDigit-Connect-10G-Thunderbolt-Ethe.... Looks like the controller generates significant heat, so there's a tradeoff between active cooling or increased thermal mass.

My only slightly informed assumption is that it's using an older 10G PHY and the size is for cooling. These were a bit over 10W, not including the USB circuitry.

that is reasonable, thanks for sharing.

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