Crypto Mining Giant Bitmain: Two New 7nm Miners Days from Fork, Ahead of IPO

Crypto Mining Giant Bitmain: Two New 7nm Miners Days from Fork, Ahead of IPO

In a recent tweet, crypto mining giant Bitmain explained, “We are officially announcing the release of our new 7nm miners which possess industry-leading hash rates designed to mine with the SHA256 algorithm. Two models will be offered, the Antminer S15 and T15. Available for purchase on 11/8.”

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Crypto Mining Giant Bitmain Announces Two New 7nm Miners

A mere days away from what might be a contentious fork within the Bitcoin Cash (BCH) community during its normally scheduled twice yearly upgrade, and literally in the heat of an initial public offering (IPO) looking to go live at year’s end or early 2019, crypto mining giant Bitmain announced two new products.

Crypto Mining Giant Bitmain: Two New 7nm Miners Days from Fork, Ahead of IPO

With precious little detail, the tweet merely described the two new miners as 7nm, with superior hashing power for SHA256, and both can be purchased as of 8 November 2018.

Last last month, the company blogged “our developers released the firmware for the Antminer S9 to enable what is popularly called the ‘overt AsicBoost’ functionality. We will also release in one week the firmware to activate this functionality in other BM1387-based models namely the Antminer R4, S9i, S9j, T9 and T9+. This step will increase future effectiveness of several Antminer models and provides the framework for a strong long-term network.”

Fork, IPO Loom

A month prior to the late October firmware update, Bitmain hinted at what was to come. During the World Digital Mining Summit in Georgia, CEO Jihan Wu “announced Bitmain’s next-generation ASIC chip BM1391 for mining cryptocurrencies using the SHA256 algorithm.” Crypto Mining Giant Bitmain: Two New 7nm Miners Days from Fork, Ahead of IPO

The company further noted how the new “ASIC SHA256 algorithm acceleration chip carefully built by Bitmain uses one of the world’s most advanced semiconductor manufacturing technologies, 7nm Finfet,” insisting the chip “integrates more than a billion transistors and is optimized for maximum efficiency.” Due to “unique circuit structure and low power technology,” the company claimed, “the chip can achieve a ratio of energy consumption to the mining capacity that is as low as 42J/T.”

It’s a brave roll out considering the goings-on and politicking within the community. A crypto Bitmain is heavily invested in, BCH, is scheduled for another upgrade on 15 November 2018, just seven days from when sales of the new miners are to begin. The upgrade is threatening to turn into a hard fork in danger of becoming a chain split, according to some analysts, and the mining giant has taken sides. Add to it how the company is also preparing for an historic Hong Kong IPO, and the announcement could be taken as an effort to change the conversation or simply business as usual.  

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