Chinese mining giant Bitmain has launched a new generation of ASIC mining chips, in a bid to solve the ever-growing problem of mining unprofitability. The company announced the news in a press release on February 18, saying that the new 7-nanometer bitcoin mining processor will offer unprecedented levels of energy efficiency.
The new ASIC chip, or application-specific integrated circuit chip, is called the BM1397 and will be used to mine cryptocurrencies such as Bitcoin (BTC) and Bitcoin Cash (BCH), that use the SHA256 algorithm for their Proof of Work (PoW).
The BM1397, much like its predecessor, the BM1391, will be powered by the 7nm FinFET process, an advanced semiconductor manufacturing technology that integrates more than a billion transistors. The technology is optimized for “maximum efficiency,” Bitmain said, adding that its engineering team has thoroughly customized the chip design to optimize its architecture, circuit, and economics.