Bitmain Develops New 7nm Bitcoin Mining Chip With 29% More Efficiency

Bitmain Develops New 7nm Bitcoin Mining Chip With 29% More Efficiency

mining of virtual currencies

According to a recent report, Bitmain Technologies has announced the launch of its new 7nm ASIC chip which is to be used for the mining of SHA-256 virtual currencies such as BCH and BTC. The mining chip which is being referred as the BM1397 is said to be more efficient when mining Proof of Work (PoW) coins compared to previous models and it will be installed in the latest Antminer series of devices.

28.6% Better Than BM1391

Based on a recent report, the mining rig manufacturing giant, Bitmain has made it known that it has built a new mining chip which is claimed to be more efficient compared to semiconductors the company has built in the past. The new chip was built after the SHA-256-centric chip model ( BM1391). This new 7nm model allows for faster and cheaper mining and offers 28.6% improvement compared to the BM1391.

Also, the BM1397 utilises low amounts of power and provides an energy consumption to computing ratio as low as 30J/TH.

The press release from the company states that:
“To achieve [better efficiency], Bitmain’s engineering team has thoroughly customized the chip design to optimize its architecture, circuit, and economics,”
“The chip is made using TSMC’s 7nm FinFET process — The BM1397 is a testament to Bitmain’s improvements in chip design methodology and deep understanding of the most advanced semiconductor fabrication technologies.”

Bitmain is Dedicated to Growth of the Mining Industry

This announcement comes after rumors and discussions about the struggling mining ecosystem. Such as reports that some startups like Canaan, Ebang, and Bitmain have reorganized their corporate structure.

Bitmain has revealed that the newly constructed semiconductor is proof of the company’s goal to make the cryptocurrency ecosystem grow. The announcement also shows that devices produced by Bitmain allow anyone to participate in this fast-growing economy.