Bitmain co-founder and CEO Jihan Wu has announced the next-generation ASIC chip BM1391 at the World Digital Mining Summit in Georgia. The new ASIC chip will mine cryptocurrencies using the SHA256 algorithm. In addition to that, Wu also announced that Bitmain will soon be launching a new generation of mining machines that will be equipped with the BM1391 mining chip.
The new ASIC SHA256 algorithm acceleration chip, designed by Bitamin developers uses the world’s most advances semiconductor manufacturing technology, the 7nm FinFET. Jihan Wu said in his speech that mass production of the new chip will begin and be applied to Bitmain’s new Antminer machines.
According to Bitmain, the new ASIC chip integrates ‘more than a billion transistors’ and is optimized to achieve maximum efficiency while increasing stability via its unique circuitry and low power technology. Mr. Wu verified in his speech that tests had shown that the chip could achieve a ratio of energy consumption to the mining capacity as low as 42J/TH. Since 2016, 16nm chips were mass-produced by Bitmain, but the company is confident the new 7nm chip will provide a better mining experience.
Jihan’s blockchain prospects
In his speech, Jihan also pointed out the development that blockchain technology has made to the present day, also admitting to the many difficulties it has faced in its first inherent decade. But he remained bullish about the direction of future development being centered around blockchain. He remains adamant that as applications continue to develop, the industry’s market capitalization will drive more growth, which will lead to greater traffic.
In this mean, ever greater capacity in data processing is required with hardware acceleration and parallel computing abilities being integrated with blockchain. According to Jihan, Bitmain’s research and development is aimed towards the consolidation of the industry position and accelerates the process of digital currency mining while setting new benchmarks for quality and experience.