Bitcoin Mining Giants Woo Miners with Next-Generation Chips

October 1, 2018

 

Bitcoin mining, hardware maker, Bitmain, has announced a new next-gen mining ASIC chip dubbed the BM1391. Bitmain’s co-founder, Jihan Wu, recently made the announcement at the Digital Mining Summit in Georgia.Designed to run on the SHA256 algorithm, the 7nm Finfet mining chip reportedly utilizes over a billion transistors for unparalleled efficiency. Its advanced circuit structure and low power usage also make it more stable. The chip can achieve a power usage capacity of 42J/T. According to Wu, production will begin soon, and the chip will be integrated into the next generation of Antminer devices. He highlighted that the advancement of blockchain technology in the sector is crucial and will ultimately increase market capitalization. Moreover, rising blockchain user traffic will eventually require greater hardware acceleration and computing technologies to effectively sustain the market.The announcement came just a day after Bitfury announced a new 14nm ASIC mining chip. Also structured to run on the SHA256 algorithm, it apparently has a mining efficiency of up to 120 GH/s and features 8,154 rolled hashing cores, and a power-on-reset circuit.

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