Bitmain, the company making ASICs for mining cryptocurrencies, has announced the introduction of a new chip, BM1397, which is significantly better than its predecessor.
In comparison to the old chip, the new one is expected to increase efficiency by 28%
. When operating, it uses only 30 joules
of energy for each terrahash, which means, that up to 33 TH
can be powered by power at the level of one kilowatt. If the existing mining device would change its mining capacity, the power savings could be observed right away.
New models, however, have the potential to be even more powerful than the existing ones. While we are able to receive more power to mine cryptocurrencies, the electricity bills will remain unchanged.
Bitmain had to deal with many incomprehensible problems in the case of IPO
. Numerous dismissals, reshuffles in the most important positions and a plenty of lawsuits put in question the future of the leading Bitcoin
Bitmain recorded particular problems in 2018
. The entire industry did not have the best streak, as a consequence of which the willingness to mine cryptocurrencies dropped significantly. Despite having more and more knowledge about this subject and despite the growing interest in the blockchain
environment, many people have stopped treating it as a profitable business.
Regardless of the fact, that mining cryptocurrencies is becoming easier, not many people are interested in this activity. The question is whether it will not be more difficult after the introduction of the new equipment. It is unquestionable, though, that solutions offered by Bitmain are appreciated by the customers and, therefore, there will be no one to complain about the sales results.