Beijing-based cryptocurrency mining equipment producer Bitmain announced the launch of a next-generation ASIC chip using the SHA256 algorithm, presenting the new solution during the World Digital Mining Summit in Georgia on Friday.
Bitmain is also planning to roll out a new generation of digital currency mining machines that incorporate the new chip, BM139, co-founder and CEO Jihan Wu said.
“The new ASIC SHA256 algorithm acceleration chip carefully built by Bitmain uses one of the world's most advanced semiconductor manufacturing technologies, 7nm Finfet. The ASIC chip integrates more than a billion transistors and is optimized for maximum efficiency. Thanks to its unique circuit structure and low power technology, it is stable and more efficient,” Bitmain said in a press release.
According to Wu, initial tests with the new chip showed it capable of achieving a low 42J/T ratio of energy consumption to its mining capacity. The next-generation Bitmain Antminer machines will be fitted with the 7nm chip once mass production begins. This should significantly enhance parameters in several areas of performance, such as energy consumption and computational power, resulting in a superior performance, he added.
Wu went on to add that Bitmain remains committed to developing and launching high-performance computing chips. The Chinese company, established in 2016, is the largest mass manufacturer of 16nm chips used in Antminer S9 cryptocurrency mining machines and other models.
The Antminer S9 is one of the favorite machines of crypto miners because of its high-computing power, stability, and low energy consumption. Bitmain has released a series of Antminer machines with a variety of models supporting different encryption algorithms to meet global demand for different cryptocurrencies.
The departure of Yang Zuo Xing in August resulted in significant setbacks for the company. The loss of the engineer who played a key role in Bitmain’s innovations in 2015 and 2016 has even cast a shadow on the initial public offering plan.