From November 8, 2018, Bitmain’s 7nm chip miners will be on sale to Bitcoin miners. The mining hardware technology from the Chinese giant is expected to transform the mining of Bitcoin by making it easier, affordable, and rewarding. The 7nm chip will also enhance efficiency in Bitcoin mining. The chip maker has not revealed a lot of details about the new equipment but available reports from important sources and Bitmain confirm that the chip miners have faster hash rates than any other model out in the market.
About Bitmain’s 7nm Bitcoin Chip Miners
Bitmain’s 7nm Bitcoin chip miner has capabilities of offering faster hash rates. A hash rate is a time taken to construct a Block that represents transactions of which Bitcoin is awarded. This is according to an initial announcement by Bitmain in September 2018. The chips are referred to as Antminers and they are available as two models- the S15 and T15.
Bitmain further disclosed additional information about the Antminer on its official Twitter page. The information revealed that the 7nm will be using the SHA256 algorithm that many consider as top notch and exceptionally efficient.
The 7nm tag on its name is meant to raise awareness in the Bitcoin mining community about the 7nm Finfet that Bitmain refers as the world’s most advanced technology in semiconductor manufacturing. This is due to the fact that the 7nm Bitcoin chip miner utilizes more than 7 billion transistors-one billion each.
Jihan Wu, the CEO, and co-founder of Bitmain revealed about two months ago that apart from offering advanced technology, the new chip will be mining BTC at faster paces while consuming less power. At the same conference, Jihan Wu told attendees that the technology has played a critical role in revolutionizing BTC mining since the ratio of power consumption to the capacity of mining has been lowered to an unthinkable low of atmost42J/T.
Production Of Bitcoin (BTC) Mining Chips Is Now A Competitive Business
Bitmain is not alone in the development of cutting-edge BTC mining chips. In fact, many companies have taken the competition to a new high level by offering ultra-advanced chips that are making BTC mining easy and viable. For instance, Bitfury Group released Bitfury Clarke which has powerful properties such as a 14nm ASIC chip, unique hash rates of about 120 gigahashes per second, 55 millijoules per gigahash power efficiency rate, SHA256 Bitcoin mining customization, etc. In fact, the production was specifically aimed at competing with Bitmain’s 7nm Bitcoin chip miner since it was released within a day of Bitmain’s September announcement about the November 8 release.
Secondly, AMD is partnering with companies such as Biostar, TUL, MSI, ASUS. ASRock and Sapphire to develop a “blockchain compute solutions” Crypto mining rig. Other competitors include Pangolin, with its 16nm Whatsminer M10, Innosilicon with its Terminator3 ASIC miner, etc. The stiff competition is also pushing some companies out of business as they fail to keep up with the sophistication.
Mining Bitcoin Is A Lucrative Business
Meanwhile, BTC mining is growing very popular and it is also becoming more sophisticated due to regulations on mining power consumption. Additionally, the BTC price is at $6, 300 which is still very high. Cutting edge mining chips such as Bitmain’s 7nm Bitcoin chip miner will be game changers.