Bitmain announces new mining chip, shies away from details

Chinese cryptocurrency mining manufacturing giant Bitmain has introduced two new mining options to its Antminer line. They’re both reportedly 7 nanometer (nm) miners, which is about all the company offered in the way of details.

In a Twitter post yesterday, Bitmain announced the launch of the miners, stating, “We are officially announcing the release of our new 7nm miners which possess industry-leading hash rates designed to mine with the SHA256 algorithm. Two models will be offered, the Antminer S15 and T15. Available for purchase on 11/8 [Nov. 8].”

“Industry-leading hash rates” don’t really indicate anything. Looking at the company’s website, there didn’t appear to be any new information, either, and the picture provided to represent the equipment is nothing more than a silhouette of what looks to be part of a normal mining rig.

It seems a little odd that the company would be pushing out new miners without offering any specifications. Squire released full details on a mining option that isn’t even ready to be distributed yet.

This would seem to be more of a ploy to generate interest in the company’s impending, and delayed, initial public offering (IPO), than an announcement of a spectacular advance in the world of cryptocurrency mining. With a large chunk of its assets tied up in product that it hasn’t been able to move due to a decline in mining interest globally, offering new mining options seems to be counterproductive to increasing the company’s profit margin.

Only two days ago, reports surfaced that Bitmain could be close to losing several agreements with suppliers of chips for its mining equipment. It reportedly owed the Taiwan Semiconductor Manufacturing Company $1 billion, of which it was able to (finally) repay $700,000. It still has to pay the $300,000 balance. Accumulating debt of $1 billion doesn’t seem to be a solid financial decision.

The growing amount of debt, the number of false representations the company has made and a loss of control of market share are taking a serious toll on the company. Its planned IPO, and an application filed with the Hong Kong Stock Exchange for the IPO, have been called into question and are seriously questioning the legitimacy and financial integrity of the company.

It might be time to put the clamps down on the company and allow regulators to take an in-depth look at how viable the company is before allowing it to move forward.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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Bitfury debuts new ASIC chip for ‘heightened’ crypto mining

Cryptocurrency mining giant Bitfury Group has unveiled its latest crypto mining application-specific integrated circuit (ASIC) chip, the Bitfury Clarke.

In a blog post, the crypto company described the 14nm Bitfury Clarke ASIC as “unparalleled in performance and efficiency.” The chip, which is fully customized for SHA256 Bitcoin mining, boasts of 55 millijoules per gigahash (mJ/GH) power efficiency rate and up to 120 gigahashes per second (GH/s) hashrate. It also offers fully integrated controllable clock generation, integrated power-on-reset circuit, and comes in Pb-free 6×6 mm FCLGA 35L or FCLGA 4L packages. Supply voltage for Bitfury Clarke can go as low as 0.3 volts.

According to its data sheet, Bitfury Clarke is “a double SHA256 ASIC designed for Bitcoin mining with optimized package size for smaller PCB designs.” The ASIC can easily switch between two task buffers—one for SHA256 calculations while the other can be filled by “task write” command.

The Clarke chipset will be integrated into the firm’s existing crypto mining hardware, from its mining servers and BlockBoxes to its crypto mining facilities in Canada, Norway, Iceland, and the Republic of Georgia, Bitfury stated.

CEO Valery Vavilos said Bitfury takes into consideration “all factors, including silicon packaging, chip efficiency, optimal power distribution, cooling designs and speed of development,” during the design process. This, Vavilos explained, “will lead to solutions that deliver the best ROI to our customers—regardless of ASIC size.”

Bitfury will offer enterprise-grade professional customer support and design consulting to any customer looking to integrate the Bitfury Clarke ASIC into their mining operations.

Bitfury describes itself as a “leading full service blockchain technology company,” developing blockchain-based platforms that companies can use to digitize their assets. The firm is behind the Lightning Network protocol, which promises to scale BTC “to billions of transactions per day” off chain using a network of micropayment channels. In March, Bitfury secured a deal with the Norwegian government to build a $35-million data center near the Mo I Rana town.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

The post Bitfury debuts new ASIC chip for ‘heightened’ crypto mining appeared first on Coingeek.

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Bitfury debuts new ASIC chip for ‘heightened’ crypto mining

Cryptocurrency mining giant Bitfury Group has unveiled its latest crypto mining application-specific integrated circuit (ASIC) chip, the Bitfury Clarke.

In a blog post, the crypto company described the 14nm Bitfury Clarke ASIC as “unparalleled in performance and efficiency.” The chip, which is fully customized for SHA256 Bitcoin mining, boasts of 55 millijoules per gigahash (mJ/GH) power efficiency rate and up to 120 gigahashes per second (GH/s) hashrate. It also offers fully integrated controllable clock generation, integrated power-on-reset circuit, and comes in Pb-free 6×6 mm FCLGA 35L or FCLGA 4L packages. Supply voltage for Bitfury Clarke can go as low as 0.3 volts.

According to its data sheet, Bitfury Clarke is “a double SHA256 ASIC designed for Bitcoin mining with optimized package size for smaller PCB designs.” The ASIC can easily switch between two task buffers—one for SHA256 calculations while the other can be filled by “task write” command.

The Clarke chipset will be integrated into the firm’s existing crypto mining hardware, from its mining servers and BlockBoxes to its crypto mining facilities in Canada, Norway, Iceland, and the Republic of Georgia, Bitfury stated.

CEO Valery Vavilos said Bitfury takes into consideration “all factors, including silicon packaging, chip efficiency, optimal power distribution, cooling designs and speed of development,” during the design process. This, Vavilos explained, “will lead to solutions that deliver the best ROI to our customers—regardless of ASIC size.”

Bitfury will offer enterprise-grade professional customer support and design consulting to any customer looking to integrate the Bitfury Clarke ASIC into their mining operations.

Bitfury describes itself as a “leading full service blockchain technology company,” developing blockchain-based platforms that companies can use to digitize their assets. The firm is behind the Lightning Network protocol, which promises to scale BTC “to billions of transactions per day” off chain using a network of micropayment channels. In March, Bitfury secured a deal with the Norwegian government to build a $35-million data center near the Mo I Rana town.

Note: Tokens on the Bitcoin Core (segwit) Chain are Referred to as BTC coins. Bitcoin Cash (BCH) is today the only Bitcoin implementation that follows Satoshi Nakamoto’s original whitepaper for Peer to Peer Electronic Cash. Bitcoin BCH is the only major public blockchain that maintains the original vision for Bitcoin as fast, frictionless, electronic cash.

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