Jihan Wu, CEO, and Co-Founder of Bitmain Technologies Ltd., recently announced the launch of Bitmain’s next-generation ASIC chip, BM1391, for cryptocurrency mining. Consequently, the chip uses the SHA256 algorithm. The announcement occurred at the World Digital Mining Summit in Georgia. Mr. Wu also revealed that Bitmain will soon unveil a new generation of mining machines equipped with the BM1391 chip.

The new ASIC SHA256 algorithm acceleration chip uses one of the world’s most robust semiconductor manufacturing technologies, 7nm Finfet. The ASIC chip integrates over a billion transistors. Moreover, it is optimized for maximum efficiency. Thanks to its distinctive circuit structure and low power demands, it is stable and more efficient. Mr. Wu said that tests have indicated the chip has the capacity to achieve a ratio of energy consumption to the mining capacity as low as 42J/T.

At his keynote speech at the summit, Mr. Wu announced mass production of the 7nm chip will begin and be integrated into the next generation of Bitmain’s Antminer machines. As such, this will improve the new miners in various performance indicators, from efficiency to power consumption and stability.

Mr. Wu also pointed out that blockchain technology has continued developing to the present day. He further noted that blockchain’s first decade has seen many difficulties and that the future direction of development will focus on blockchain applications. He said that as applications continue to develop, the industry’s market capitalization, on the whole, will foster growth. Exponential growth in blockchain user traffic will as well require even greater capacity in data processing. With the integration of hardware acceleration and parallel computing technologies, blockchain will be able to overcome the increased traffic.

About Bitmain

Bitmain is renowned for the development and launch of high-performance computing chips. Since its inception, Bitmain has independently developed and mass-produced a number of chips. In 2016, Bitmain took the lead in releasing and mass-producing 16nm chips, applying them to its Antminer S9 miner and other models. The Antminer S9 swiftly occupied global markets with its high-computing power, low power consumption, as well as strong stability. Moreover, it has become a leader in the global mining machine industry. In addition, Bitmain’s Antminer series of mining machines has instigated various models that support different encryption algorithms to fulfill the global demand for countless cryptocurrencies.

As a world-leading high-performance computing chip organization, Bitmain has grown expeditiously over time, growing into a multi-brand business. Consequently, these include BTC.com, Antminer, Sophon, and Antpool. Bitmain’s crypto mining machine has long been a global front-runner with a market share of over 70%.

The 7nm chip reflects the R&D strength of the company. In addition, it fortifies Bitmain’s industry position. For the industry in entirety, this not only accelerates the advancement of cryptocurrency mining but also sets a new benchmark for quality, providing miners with a better mining experience.