The Japanese company GMO Internet Group announced on Wednesday the launch of their bitcoin application specific integrated circuit (ASIC) miner built on a 7nm architecture. They are aiming for the new compact chip design to launch on the 6th of June and for mass production of the B2 miner to lead to the shipping of the final product in October.
New entries are welcome in the market as according to Bernstein, “Bitmain accounts for as much as 80% of bitcoin application specific integrated circuits (ASICs)”. Bitmain has generated between USD 3 billion and USD 4 billion in profits in 2017. The Beijing-based company rivals profits of one of the market leaders Nvidia, who specializes in chipset design and manufacture. Nvidia’s market cap was USD 147 billion, turning profits of USD 3 billion in 2017. With mining technology reaching similar levels to that of well-established companies it puts into perspective the rate of growth that the market is experiencing. Bitmain has achieved what Nvidia took several decades to achieve in a brief window, this is partially down to the rapid increase in the value of bitcoin. This year they announced their Ethereum ASIC which is going to add to their already expanding profits.
Bitfury Group is also generating competitive revenue with its bitcoin mining operations, and software services turning over USD 93.7 million revenue in 2017’s financial year.
7nm architecture and hardware accelerators
Samsung revealed earlier this year that it is due to start manufacturing ASIC chips in January 2018. Intel has been developing some of its own technologies, claiming their hardware accelerator could create a power reduction of as much as 35 percent.
“Because the software and hardware utilized in Bitcoin mining uses brute force to repeatedly and endlessly perform SHA-256 functions, the process of Bitcoin mining can be very power-intensive and utilize large amounts of hardware space. The embodiments described herein optimize Bitcoin mining operations by reducing the space utilized and power consumed by Bitcoin mining hardware.”
The 7nm Architecture will be the latest advancement in the bitcoin mining sector as well as the computer industry with four-fold efficiency. 7nm semiconductors contain 20+ billion transistors, whilst fitting on your fingertip they are still capable of performing complex computations. Samsung and IBM are also researching and developing these 7nm chips. With 7nm chips on the horizon, this then sets the future for 5nm semiconductors and a move closer to the end of Moore’s Law.
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