Chinese Miner Releases 14 nm ASIC, Targeting Consumers

One of the lower profile 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 manufacturers, China-based Bi Wang (BW), has reportedly unveiled a 14 nm ASIC (application specific integrated circuit).

According to a report by Bitcoin Magazine, the startup is marketing its miner to companies as well as to consumers. The launch is targeted for early 2016.

During the pre-order phase, each unit costs 0.87 BTC ($235). However, there is a minimum order quantity of 333, bringing the total cost to 289.7 BTC ($68,000). The bundle would be capable of producing 1 PH/s (1 PH = 10¹⁵ hashes, or encryption calculations)- about 0.24% of the total Bitcoin 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.

Each chip is capable of producing 34.6-63.0 GH/s (1 GH = 10⁹ hashes), with a power consumption of 18 W based on a voltage range of 0.59-0.76 V. This implies a peak power efficiency of 0.29 J/GH.

When the miners officially launch in the winter, there will be no minimum order quantity.

Nine months of research and development reportedly went into designing the chip.

Advances in hardware design have made it more profitable to bring additional hardware online, resulting in the total network hash rate recently reaching new peaks near 490 PH/s. The rate has since dropped to near 430 PH/s.

BitFury, arguably the industry's most dominant player, recently announced a 16 nm ASIC, claiming a power efficiency of 0.06 J/GH. Spondoolies-Tech, also one of the industry leaders, recently announced a miner with an advertised peak efficiency of 0.15 J/GH.

Some following the mining industry during the past 18 months may be disturbed by the notion of pre-ordering mining equipment. In such business models, the heavy costs of production are financed by funds from customer pre-orders. There were several notable instances of producers repeatedly failing to adequately fulfill orders or process refunds, in some cases resulting in legal action. A number of manufacturers have gone bankrupt.

It is hoped that the industry has learned from these mishaps, and that the surviving generation of manufacturers are of a different breed.