giant and hardware producer has announced its next generation 7nm (nanometer) ASIC mining chip, according to a press release on Monday, Feb. 18.
The new mining , BM1397, is designed for mining that use the SHA256 algorithm for their proof-of-work (), such as ₿itcoin () and ₿itcoin Cash ().
BM1397 requires less power for mining cryptocurrencies, representing a 28.6 percent improvement in power efficiency in comparison with the company’s previous 7nm chip, BM1391.
The new chip will be used in new models — S17 and T17 — which will be revealed later this year.
As Cointelegraph previously reported, Bitmain difficulties due to the prolonged bear market and at least two class action lawsuits filed against the company. The Chinese giant reportedly a blockchain development center in , its operations in Texas, and also its operations in the in the past few months.
Other major mining companies are also facing challenges due to the crypto market decline. For instance, internet giant GMO Internet Group it was leaving the ₿itcoin mining hardware sector in December 2018, citing the significant Q4 losses.
At the same time, gaming and computer hardware manufacturer , which was one of the companies by the market downturn and associated lack of demand for components, has recently full-year revenue gains despite Q4 losses and a “crypto hangover.”
Published at Mon, 18 Feb 2019 14:40:00 +0000
