Blogs & Articles: BIT Mining And Chain Reaction Partner To Create New Bitcoin Mining Systems đ 44 weeks ago
- Category: Blogs & Articles | Bitcoin Magazine: Bitcoin News, Articles, Charts, and Guides
- Author(s): BtcCasey
- Published: 24th May 2023 20:58
BIT Mining Limited has announced a collaboration with semiconductor company Chain Reaction to develop next-generation systems for bitcoin mining. According to a press release, the collaboration aims to leverage Chain Reaction's âEL3CTRUM ASICâ solution to create hardware that delivers industry-leading performance with low power consumption.
The press release states that Chain Reaction specializes in designing hardware for blockchain, privacy, high-performance computing (HPC) and the cloud. With a team experienced in analog and circuit design, the company has successfully produced 30 ASIC tapeouts for high-volume manufacturing. The recently launched EL3CTRUM ASIC by Chain Reaction is described as a âgroundbreaking blockchain chip that serves as the foundation for sustainable, high-performance blockchain technologies.â
Alon Webman, CEO of Chain Reaction, explained what the partnership hopes to yield, saying that "Chain Reaction's bleeding-edge ASICs will enable BIT Mining to build next-gen systems to advance the Bitcoin mining industry towards faster, more power efficient computing."
âWe believe through this collaboration we can leverage our individual strengths to provide the mining community systems that enhance long-term benefits and capabilities,â Xianfeng Yang, CEO of BIT Mining reiterated. âWith the crypto mining industry continuing to evolve, BIT Mining looks to develop systems that are more efficient, accessible, and sustainable."
The systems developed through this collaboration are expected to launch later this year.Â