BitFury Launches new 28nm Bitcoin ASIC miner chip

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BitFury Launches new 28nm Bitcoin ASIC miner chip

In a big step from their current 55nm chip, BitFury has launched new 28nm Bitcoin ASIC miner chip. The ambitious project was in pipeline for quite some time and received momentum after the company received $40 million in venture capital funding in 2014. Valery Vavilov, the CEO of the company appreciated the team for their efforts to bring the mining chip.

As BitFury has also made moves to other parts of the Bitcoin industry partnering with BitGo and looking beyond just processing Bitcoin transactions, the new mining chip is expected to give it further momentum. Particularly, when speed is becoming important for Bitcoin miners; individual Bitcoin mining is becoming unpopular though.

Earlier, the company acquired Allied Control for immersion cooling which according to Valery Vavilov was meant to substantially increase energy efficiency of data centers and speed up deployment of new ASIC chip. Over the last couple of months the company has been moving steadily but definitely towards strengthening its presence in the Bitcoin ecosystem.

Currently, BitFury is in direct competition with some other chip makers. As the chip reportedly runs at 0.2 joules per gigahash according to the company should be more productive than the existing chips available. Valery says that his firm was not only bringing the new chip design but also working to optimize the board design to get the most out of the chip.

He is giving extra attention to the performance as according to him it should be very good with less loss due to non-optimized board setups. According to the company sources this chip is the most technologically advanced Bitcoin ASIC 28nm chip to date. However, it is not stopping there either as it wants to move up further and bring better mining chips.

BitFury Sees Bright Future of Bitcoin

Talking to media professionals Valery says that his vision is to enable people get transact processors in everything from phones to other small electronics in the future. He sees the new things like smart contracts, properties and more on the Blockchain driving the industry even more – the latest launch is part of his vision.

Launching new Bitcoin mining chips, partnering new companies, there are no limits to what can be done in the Bitcoin industry for BitFury. The company is moving forward using Bitcoin technology, however, its focus is not limited to the virtual currency; rather, it is also looking into other technology areas.

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