Bitmain has a New ASIC Chip for Mining BTC and BCH

Bitmain has a New ASIC Chip for Mining BTC and BCH

The BM1397 is the next generation 7nm ASIC chip designed for mining SHA-256 cryptocurrencies, like bitcoin and bitcoin cash. It is the latest release by mining rig producer Bitmain

To achieve [better efficiency], Bitmain’s engineering team has thoroughly customized the chip design to optimize its architecture, circuit, and economics

Bitmain

The new product, made using 7nm FinFET process by TSMC, was revealed through a press release published on 18 February 2019. The BM1397 is touted to have a greater degree of efficiency than its precursor, the BM1391. The new chip has an energy consumption to computing ratio of 30J/TH – which is a 28.6% improvement in contrast to the BM1391 – thus, has a low power outlay.

Bitmain’s BM1397 will be part of the yet to be released Antminer models, the S17 and T17.

Shake-Ups

In November 2018, Bitmain restructured its Board of Directors in an effort to simplify the board for their much-desired IPO. Also in November, the mining rig manufacturer released two Antminer models.

In January 2019, Bitmain co-founders Jihan Wu and Micree Zhan Ketuan stepped down from their CEO positions but they still hold decision making powers. Also on the same month, the HKEX spotted problems in the company’s IPO proposal.

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