On February 18, 2019, Bitmain Technologies Ltd. announced its next generation 7nm ASIC mining chip dubbed BM1397 in the official press release.

BM1397 is developed mining cryptocurrencies such as Bitcoin and Bitcoin Cash. It use the SHA256 algorithm for cryptocurrencies’ Proof of Work . The mining chip combines energy efficiency, high performance and miniature size. It gives 28.6% improvement in power efficiency as compared with Bitmain’s previous 7nm chip dubbed BM1391. To achieve this,  the chip design was thoroughly altered to optimize its architecture, economics and circuit. The new chip BM1397 was made using TSMC's 7nm FinFET process.

According to the press release, development of the new high-performance mining chip is the part of the company’s aim “to help advance the cryptocurrency ecosystem”. The company believes that its innovations enable anyone, anywhere to mine and benefit from cryptocurrencies.

Bitmain was founded in 2013 and it is headquartered in Beijing, China. Bitmain is one of the leaders among companies which produce integrated circuits for cryptocurrency mining, as well as mining hardware. The company intends to “transforms computing by building industry-defining technology in cryptocurrency, blockchain, and artificial intelligence”

Author: Helen Darkhouse