TL;DR: Crypto mining and manufacturing giant Bitmain Technologies Ltd. announced its BM1397 chip, which the company claims “combines new chip design methodology and world-leading 7nm semiconductor manufacturing process,” along with requiring “lower power” and a “better energy consumption to computing ratio.” For one of cryptocurrency’s most successful and longest running businesses, it’s not a comeback but instead a restatement Bitmain is pushing ahead during a nasty and extended bear market.

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Bitmain Announces New 7nm ASIC Chip for SHA256

Having hinted at good things to come, Bitmain recently revealed its “7nm ASIC chip, BM1397, which achieves new feats in performance, chip area and energy efficiency for mining cryptocurrencies such as Bitcoin (BTC) and Bitcoin Cash (BCH), that use the SHA256 algorithm for their Proof of Work (PoW),” the company detailed.

Arguably, mining is the ecosystem’s lifeblood, and during the space’s longest speculative price downturn, more critical eyes have turned toward the practice, its rig manufacturers, and even the very process itself. Charges of environmental harm have plagued crypto since it began to gain popularity, and application-specific integrated circuit (ASIC) mining chips were cited as a main culprit.

Undergirding it all is how vast networks are secured using the SHA256 algorithm for proof of work (PoW) will adapt to market pressures to be more efficient, ultimately and in the very crucial present. The Beijing, China company has made its fortune on ASIC chips and miners, and has long worked at outcompeting rivals while responding to economic realities.

Faster, Better, Cheaper

The efficiency concern turned the new BM1397 chip into requiring “lower power” and so it offers “an energy consumption to computing ratio as low as 30J/TH. This is a 28.6 percent improvement in power efficiency in comparison with Bitmain’s previous 7nm chip, the BM1391.” Faster, better, cheaper has to be the mantra for a company set to go public with an IPO, and doubly-so as the surrounding industry contracts.

Bitmain has gone through well-publicized restructuring, and took measures to trim its bull market expansion, but seems to have held strong enough that its “engineering team has thoroughly customised the chip design to optimise its architecture, circuit and economics. The chip is made using TSMC’s 7nm FinFET process,” which its presser describes as “a testament to Bitmain’s improvements in chip design methodology and deep understanding of the most advanced semiconductor fabrication technologies.”

And it’s a good time for such industry news, as many have worried companies in the space have lost interest or are moving on altogether. “Today’s announcement follows Bitmain’s on-going commitment to the development of high-performance computing chips and is a part of its aim to help advance the cryptocurrency ecosystem,” they assured, adding its “innovations enable anyone, anywhere to mine and benefit from cryptocurrencies.”

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