The crypto mining industry has seen the one company dominance for quite some time, as Bitmain commands around 70 percent of the global market for BTC mining solutions. However, with the mining giant currently preparing for its IPO, other players are trying to raise the competition and earn their slice of the pie.

Bitfury Group has launched a new and more efficient bitcoin mining hardware, according to the official blog post by the company. The application-specific integrated circuit chip, labeled Bitfury Clarke, “offers the strongest performance characteristics among bitcoin mining chips and is unparalleled in performance and efficiency“, says the official announcement.

The firm has published the specs of its latest product, revealing that the 14nm Bitfury Clarke ASIC is fully customized for SHA256 bitcoin mining algorithm. It can execute a hashrate up to 120 gigahashes per second (GH/s) and a power efficiency rate as low as 55 millijoules per gigahash (mJ/GH). The supply voltage required by Bitfury Clarke can be as low as 0.3 volts.

The blog states that, “Bitfury is the first bitcoin mining provider to include both a full datasheet and reference design with its chipsets. The company will offer enterprise-grade professional customer support and design consulting to any customer looking to integrate the Bitfury Clarke ASIC into their mining operations.“

Aside from selling the new BTC mining chip, the company will be integrating it into its mining servers and its own BTC mining facilities, located in Canada, Norway, Iceland and the Republic of Georgia. Bitfury opened its Scandinavian bitcoin mining operation earlier this year, after signing an official partnership agreement with the Norwegian government. The company has offices in San Francisco, Washington, Amsterdam, Hong Kong and London.

Valery Vavilov, CEO of the company, claimed that, “Bitfury is looking at all factors, including silicon packaging, chip efficiency, optimal power distribution, cooling designs and speed of development when designing our mining hardware. We think that this will lead to solutions that deliver the best ROI to our customers — regardless of ASIC size.“

During the crypto craze in last December, Bitfury announced a partnership with a Toronto-based BTC mining company Hut 8. The Canadian enterprise owns two bitcoin mining farms, with Bitfury providing access to mining hardware and other necessities for them. During the first half of the year, the company reportedly mined around 1900 BTC (worth approximately $12.7 million as of press time).

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