BitFury Completes 16NM ASIC Bitcoin Mining Chips

BitFury Group, the leading, fully integrated Bitcoin Blockchain infrastructure provider and transaction processing company, has announced that it has completed the tape-out for its 16NM ASIC Bitcoin mining chips. The company in a press release claims that the chip was first revealed to be in production in February.

Informing the media the company claims that the chip will achieve energy efficiency of 0.06 joules per gigahash, compared to the 0.2 joules per gigahash of its 28nm predecessor. Nonetheless, as BitFury suggested the chip will deliver “four times the compute power” of its previous 28NM chip, it has generated a lot of interest among Bitcoin miners.

BitFury the company that builds ASICs, PCB boards, servers and data centers, everything in-house and everything full custom which allows it to be the most efficient Blockchain transaction processor, also runs one of the largest operations in the world with specially designed data centers located in Iceland and the Republic of Georgia.

Nonetheless, the startup has also been able to attract venture capital from various funding rounds. It in fact has raised $60m in VC financing. Moreover, as it has given commitment to green energy, the strength of its immersion cooling process and what it called an ability to compete in a “new era” of Bitcoin mining.

Environment-Friendly Bitcoin Machines

Talking about the latest developments at the company CEO Valery Vavilov said that all told, the company is leading the development of environmentally-responsible infrastructure for the next chapter of the Internet based on the Bitcoin protocol and blockchain technology. The company suggested the new technology would likely be deployed in data centers.

BitFury has built its reputation as the market leader with its custom-made ASIC chips, designed to achieve the lowest power consumption coupled with the highest processing metrics. The latest product is expected to further help it generate trust

Originally appeared at: http://www.forexminute.com/bitcoin/bitfury-completes-16nm-asic-bitcoin-mining-chips-62493