Bitmain CEO, Jihan Wu Announces New 7nm Bitcoin Mining Chip

Bitmain has announced the introduction of a new 7nm application-specific integrated circuit (ASIC) processor.

According to Bitmain, the processor offers better hashing power and energy efficiency over older models.

This is coming just a day after Bitfury revealed a new 14nm mining chip called the Bitfury Clarke.

Jihan Wu, CEO and co-founder of Beijing based firm at the World Digital Mining Summit in Tbilisi, Georgia, on Friday announced the ASIC – a powerful type of chip designed for specific types of computation.

According to him, itw was designed to mine cryptocurrencies using the SHA256 algorithm – a group that includes bitcoin – the “BM1391” chip will also be powering an upcoming range of Bitmain’s Antminer series of mining machines, Wu said, according to a company blog post.

The company says BM1391 uses an advanced semiconductor manufacturing technology called 7nm FinFET, integrates “more than a billion transistors” and is optimized for energy efficiency. Wu further said said that, in tests, the chip “can achieve a ratio of energy consumption to mining capacity that is as low as 42J/TH.”

As reported by CoinDesk, Bitfury launched its 14nm Clarke chip Wednesday, saying it “offers the strongest performance among bitcoin mining chips and is unparalleled in efficiency.” The ASIC is said to have power efficiency up to 55 mW/GH and a hashrate up to 120 GH/s.

Japanese tech giant GMO, in June also said it was launching the “world’s first” 7nm ASIC, slating the first shipments for October.

The chip was to be fitted in a new miner called the B2, the report says. The machine will also provide a hash rate of 24TH/s and power consumption of 1,950W per unit – which breaks down to 81W per 1 TH/s.

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