ASICrising Promises to bring high-performance microchip for Bitcoin mining

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ASICrising Promises to bring high-performance microchip for Bitcoin mining

ASICrising Promises to bring high-performance microchip for Bitcoin mining

ASICrising which was founded in July 2013 says that it going to bring a new high-performance microchip that according to it would make Bitcoin mining much less energy intensive, and thus cheaper for Bitcoin miners. The high-performance microchip can play vital role in economizing the entire Bitcoin mining process which costs a lot of energy for miners.

Bitcoin mining, a process of solving complex mathematical problems requires vast computing power and cooling systems so that the purpose-built processors, called application-specific integrated circuits or ASICs overheat. However, as is being promised by this Dresden-based ASICrising GmbH, the microchip will help reduce energy consumption.

ASICrising GmbH which is about to change its name to CoinBau AG promises that it has found a solution to the problem wherein it is going to provide an energy-efficient, low-voltage chip. The chief executive of the company Sebastian Krause said that the latest microchip can be used together with software to reduce by half the energy needed to mine Bitcoin.

Talking to media professionals he informed that the chip is going to be called Wolfblood Extreme Efficiency. Requiring only 0.19 joules of energy for a Gigahash, a mathematical equation of Bitcoin mining computing power, it is quite less when compared with 0.37 joules per Gigahash so far consumed by the most energy-efficient Bitcoin-mining chip available.

The New Chip Help Bitcoin Miners Reduce Cost and Avoid Overheating of the ASICs

The company being run by a team of experienced electronic system engineers who have worked in integrated circuit design, PCB design and software development is expected to bring in an excellent solution for Bitcoin miners. Now, the company wants to bring a new high-performance microchip that it says would make Bitcoin mining much less energy intensive, and cheaper.

The company says that developing a chip that can help Bitcoin miners save on energy is important as Bitcoin mining requires vast computing power and cooling systems so that the purpose-built processors, called application-specific integrated circuits or ASICs, don’t overheat and cause losses per Bitcoin production for the miners.

The new chip from the company is going to be an energy-efficient, low-voltage solution that together with software will reduce by half the energy needed to mine Bitcoin. Thus, with the new chip called Wolfblood Extreme Efficiency that requires only 0.19 joules of energy for a Gigahash, the company aims to give speed and competitive prices for Bitcoin miners.

To contact the reporter of this story: Deepak Tiwari at deepak@forexminute.com

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Deepak Tiwari, a law graduate, has been working as a journalist for six years now. He currently writes on Bitcoin, economic, and Forex related news at ForexMinute, the brand new financial news portal which is making waves among Forex traders around the globe for the innumerable Forex resources it offers for readers, traders and brokers. His other specialties include writing on law & governance, finance, internet marketing, careers, politics, international relations & diplomacy, etc.