BitFury Says 16 nm ASIC Testing Successful, Mass Production to Begin

Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term mining hardware giant BitFury has announced that the testing of its 16 nm application specific integrated circuit (ASIC) has met expectations.

The company unveiled the chip several months ago, stating that it can attain energy efficiencies of 0.06 J/GH (1 J = 0.000000278 kwh, 1 GH = 10⁹ hashes), which would be unparalleled in the industry. The company said the chip will herald the "exahash era", whereby the total Bitcoin mining network Hash Rate Hash Rate A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain A hash rate is the measure of a cryptocurrency miner’s performance and a key security metric. In the context of mining, the more hashing or computing power in a given network, the greater its security and its overall resistance to attackMining hashrate is a key security metric. The more hashing (computing) power in the network, the greater its security and its overall resistance to attack. Hash rate is also a measurement of the output of a device that is used to add transactions to a blockchain Read this Term reaches 1 EH/s (1 EH = 10⁹ GH). In a press release today, the company stated:

"On average, the measured power efficiency of tested engineering samples of the new BitFury Chip ranges from 0.055 joules per gigahash to 0.07 joules per gigahash."

The company also stated that each chip delivers a minimum 100 GH/s. A maximum hash rate of 140 GH/s is attainable with air cooling, and 184 GH/s with immersion cooling- a technology developed by a startup acquired by BitFury earlier this year. Each chip is capable of running on 0.35 V.

BitFury CEO Valery Vavilov claimed: "We understand that it will be nearly impossible for any older technology to compete with the performance of our new 16nm technology."

The company partnered with Global Unichip Corporation (GUC), a Taiwan-based ASIC designer, to develop the chips.

BitFury said it will begin producing the chip en masse and is targeting Q1 2016 to bring it to the market through "integration and reseller partners."