Bitmain To Introduce Miner With Innovative Chip Technology
The head of Bitmain, the leading ASIC developer, Jihan Wu, announced the development of an innovative chip for cryptocurrency mining, namely BM1391. At the World Digital Mining Summit in Georgia (September 21–23), he stated that the company would soon release a new generation miner equipped with the new chip.
Bitmain CEO and co-founder Jihan Wu at the World Digital Mining Summit in Georgia
The new BM1391 circuit is developed according to the revolutionary 7-nanometer FinFET technology, and mass production of such chips started just in 2018. The device is based on the secure SHA256 hash algorithm, with reference to the information provided on the corporate blog. According to the Bitmain team, their new product has been optimized for maximum mining efficiency.
In addition, the representatives of Bitmain point out the low energy consumption of the device and aver that they primarily focused on stable chip performance. As calculated by Jihan Wu, the chip was tested and showed the mining capacity of 42 Joule per 1 TerraHash. Large-scale production of chips and BM1391-based miners is expected in the near future.
New Bitmain next-generation ASIC chip with ratio of energy consumption to mining capacity as low as 42J/T
Speaking at the summit, Wu shared his opinion that during its first 10 years, the blockchain technology faced many difficulties. He believes that in the future, the industry will focus on developing of blockchain-based applications. Alternatively, user traffic will increase, hence the need for the introduction of even more powerful equipment for processing large data volumes of information. For this purpose, Wu proposes integrating blockchain into computing technologies.
Bitmain’s 7nm chip to be used in a new Antminer
In 2016, Bitmain released the top-of-the-line Antminer S9 on a 16-nanometer ASIC chip. This model momentarily gained popularity in the international market due to capacity advantages and low energy consumption. However, analysts hold the opinion that the company began giving way to its rivals.
Previously, a large mining company Bitfury introduced an improved chip for mining.