Bitfury Group, one of the leading technology company in the crypto industry, has announced its new, and more efficient bitcoin mining chip.
Making the announcement on Wednesday via a blog post, the company seems to have made another landmark achievement in development, since its foray into other software services after initially starting as a bitcoin mining operating company. Its latest innovation, the Bitfury Clarke application-specific integrated circuit (ASIC) chip according to the company’s announcement “offers the strongest performance among bitcoin mining chips and is unparalleled in efficiency.”
With a power efficiency as high as 55 mW/GH and a hashrate of 120 GH/s, the new ASIC chip has been customized for the SHA256 algorithm and has more than 8000 rolled hashing cores. Other improved specifications of the chip include a fully integrated controllable clock generation and an integrated power-on-reset circuit.
The company which was founded in 2011 has since expanded to a multimillion dollar company, with revenue of almost $100 million generated last year, 2017. Valery Vavilov, the CEO of the company, talked about the various factors and angles that Bitfury considered when making their product.
He stated: “[the company] is looking at all factors, including silicon packaging, chip efficiency, optimal power distribution, cooling designs and speed of development when designing our mining hardware.”
According to him, the group believes the innovation would lead to solutions that would deliver the most excellent result and also the best return on investment to its customers.
The report released in a PDF highlights the versatility of the chip as the chip can switch between tasks and uses a task buffer for SHA256 calculations, ” while the other can be filled by a task-write’ command.”
Although the chip is ready, it is yet to be integrated into major operations yet, but that is bound to change soon if the reports are to be believed; as the ASIC chips are already being concurrently installed.