Subscribe
May 3, 2026
Sign In

Capitalizations Index – B ∞/21M

Menu
Breaking
The Fixed Supply of Bitcoin: Limited to 21 Million Coins Understanding Bitcoin Addresses Starting with ‘1’: The P2PKH Format How Bitcoin Works: Peer-to-Peer Validation via Cryptography Bitcoin’s All-Time High: $69,000 Peak Explained (2021) Bitcoin: A Robust Alternative to Financial Censorship

Bitmain Unveils New 7nm ASIC Chip After Dismal 2018

Bitmain unveils new 7nm asic chip after dismal 2018

Bitmain Unveils New 7nm ASIC Chip After Dismal 2018

Bitmain Technologies has announced a new iteration of its 7-nanometer bitcoin mining chip. The cryptocurrency mining hardware behemoth says the new and improved 7-nm chip offers greater energy efficiency for mining operations.

More Energy Efficient bitcoin Mining

The company announced the news in a blog post published on Monday (February 18, 2019), on its official blog. According to the statement, the new BM1397 chip offers faster and cheaper cryptocurrency mining.

Taiwan Semiconductor Manufacturing Company (TSMC), Bitmain’s chip supplying contractor, manufactured the chip using the former’s 7nm FinFET process. Bitmain says its new class of 7-nm chips is designed for cryptocurrencies like bitcoin and bitcoin Cash that use the SHA256 Proof-of-Work (PoW) mining algorithm.

Bitmain unveils new 7nm asic chip after dismal 2018

According to the company, the new mining processor provides significant improvements in power efficiency from the earlier 7-nm chips released in November 2018. An excerpt of the announcement reads:

The new BM1397 chip requires lower power and can offer an energy consumption to computing ratio as low as 30J/TH. This is a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391.

The post also revealed that new upgraded 7-nm chips would come as part of the proposed S17 and T17 Antminer models. Bitmain is yet to disclose any timetable for when these new miners will be ready for release.

Difficult 2018 for Bitmain

Bitmain will be hoping that the launch of a new mining processor will spark efforts to improve the company’s fortunes following a tumultuous 2018. A wrong bet on bitcoin Cash saw the company reportedly incur losses more than $740 million in Q3 2018 alone.

In Q4 2018, the mining behemoth also significantly reduced its staff strength laying off entire departments. First, the company fired its Israeli-based R&D department before laying off its bitcoin Cash development team.

Co-founders Jihan Wu and Ketuan Zhan also faced the ax, as reports emerged that the company was shopping for a new CEO.

Bitmain’s IPO plans was also another victim of the company’s difficult 2018. At the start of the year, Bitcoinist reported that Bitmain’s proposed mega mining facility in Texas was being put on hold.

Do you expect Bitmain will be able to turn the tide around in their finances in 2019? Let us know your thoughts in the comments below.

Image courtesy of Shutterstock, bitmain

Published at Mon, 18 Feb 2019 16:00:21 +0000

Previous Article

Top 10 cryptocurrencies in 2018 | Best Cryptocurrency to invest in 2018 | Best Bitcoin Alternatives

 Next Article

You Can Now Send Bitcoin Tips Over Lightning on Twitter

You might be interested in …

Crypviser’s CVCoin Trades on OpenLedger; Bigger Exchanges Coming

Crypviser has recently finished the token distribution process, allowing the CVCoin token to be traded on the OpenLedger Decentralized Exchange. Plans for centralized exchanges have also been revealed.

Crypviser CVCoin ICO

Crypviser, CVCoin and the ICO

Online privacy is one of the most pressing issues of today’s internet. Although access to privacy-oriented tools continues to improve over time, other applications that do not focus on privacy often present themselves as a more intuitive alternative. Blockchain technology has been on the fringe of financial privacy and now, thanks to the Crypviser project, it may play an important in communications privacy and its mainstream adoption.

Focusing on privacy and end-to-end message encryption, Crypviser is leveraging the advantages provided by the blockchain technology to create an all-in-one network for secure social and business communications. The platform’s native token, CVCoin, will be required in order to interact with the communications platform and for in-chat payments.

CrypViser: Secure Communications

Following a successful Initial Coin Offering (ICO) period, he token distribution process has been completed with campaign participants receiving their CVCoins in the form of a Bitshares-based asset. A previous Facebook post made by the team explains why the BTS blockchain was chosen:

Crypviser chose the Bitshares platform powered by OpenLedger based on its key features, which match Crypvisers technical requirements and ideology. The Bitshares platform is one of the most powerful, secure and scalable blockchain networks available today.

The team has also released some ICO statistics that show just how popular privacy tools can be. The campaign gathered over $3.4 Million in several cryptocurrencies and distributed 5.5 Million CVCoin tokens to roughly 3000 unique investors. Since then, the Crypviser community has grown at an outstanding speed and currently counts with more than 8000 members in various multi-lingual sub communities.

Bitshares & Openledger

Since the Crypviser network will use the Bitshares blockchain, the CVCoin can be freely traded with no counterparty risk on the OpenLedger decentralized exchange. The Facebook post reads:

The Crypviser team believes that the future of exchanges and trade platforms in decentralized blockhchain world belongs the decentralized exchanges.

Although trading hasn’t been officially announced by the Crypviser team, trades are already taking place within the OpenLedger exchange. The team has warned that the prices seen on these “pre-markets” may not reflect the real market price of the CVCoin token, given their low volume and the lack of availability on traditional platforms.

What is next for Crypviser?

What is next for Crypviser?

With the CVCoin token distributed to ICO participants, Crypviser moves on to the next stages of development, including getting the token listed on traditional exchanges. Although the CVCoin is available on the OpenLedger DEX, Crypviser announced a plan which involves starting with the bigger exchanges like Bittrex, Poloniex and Kraken, and moving on to smaller markets like C-CEX and others.

Crypviser will also commence the development of their own wallet which will provide token holders with an intuitive interface for token interaction. Along with the development of a new wallet, they will also launch an official website for the project and the CrypNews media channel, a platform that will feature the latest news in the world of Blockchain Tech & Cryptography.

Further down the line, the team will release an early Alfa version of the Crypvise App for social communication which will be available for to CVCoin ICO early bird participants.

Can Crypviser help shape the future of online privacy? Let us know what you think in the comment section.

Images courtesy of

The post Crypviser’s CVCoin Trades on OpenLedger; Bigger Exchanges Coming appeared first on Bitcoinist.com.

Close Menu