- Telecommunications Giant Vodafone Leaves the Libra Association
- Group of Central Banks Assesses Developing Central Bank Digital Currencies
- South Korea Might Impose 20 Percent Tax on Cryptocurrency Profits
- Report: Terrorists Increasingly Use Crypto to Raise Funds Anonymously
- Canadian Securities Administrators Subject Crypto Exchanges to Securities Laws
Hong Kong-based crypto mining rig manufacturing giant Bitmain Technologies Limited revealed its next-generation 7nm ASIC chip to mine SHA-256 cryptocurrencies like Bitcoin and Bitcoin Cash. According to Bitmain, this newly designed mining chip is 28.6% more efficient than Bitmain’s previous 7nm chip, the BM1391. This mining chip will be available in new Antminer models the S17 and T17 as announced by by the company.
Since inception, Bitmain is pushing the edges of computing power by developing top-tier crypto mining chips. Bitmain is also the market leader in the development of integrated circuits specific to cryptocurrency mining and mining hardware under the Antminer brand. It also operates two of the largest crypto mining pools called Antpool.com and BTC.com. With the announcement of launching next-generation 7nm ASIC chip BM1397, Bitmain is about to set a new benchmark in ASIC chip technology.
According to Bitmain, BM1397 delivers breakthrough energy efficiency, improved performance and cheap mining thanks to the combination of new chip design methodology and a top-notch 7nm semiconductor manufacturing process. Moreover, BM197 is specifically designed to mine cryptocurrencies i.e. Bitcoin and Bitcoin Cash that uses the SHA-256 algorithm for their Proof of Work (POW).
The new BM1397 chip needs lower power to function and has an energy consumption to computing ratio of as low as 30J/TH which is way lower in comparison to BM191. The new integrated circuit is said to be required 28.6% less power consumption that promoted cheaper and energy efficient crypto mining. Bitmain’s designing and engineering teams had spent endless efforts and significant time to optimize its architecture and enhance the performance by customizing it thoroughly. Moreover, the new SHA-256-centric chip is entirely produced using Taiwan Semiconductor Manufacturing Company’s 7nm FinFET process.
Until now, Bitmain has developed a wide range of ASIC mining chips and the BM197 is said to be the most advanced crypto mining chip among them. The chip also represents the company’s dedication and commitment to design and manufacture of high-performance computing chips to embrace the whole crypto mining industry. According to the announcement made on February 18, 2019, BM197 will be supported by Antminer models the S17 and T17 which will be revealed later this year.
This new development is precisely what Bitmain needs after it has struggled with some major issues over the past few months. A new innovative chip that could actually change the crypto mining landscape just might be the thing that could help the company bounce back up.