The newest mining hardware, BM1397, is created for mining cryptocurrencies which use exactly the SHA256 algorithm to get their proof-of-work (PoW), for example Bitcoin (BTC) and also Bitcoin Cash (BCH).
BM1397 needs less electricity for mining cryptocurrencies, representing that a 28.6% increase in power performance in contrast with the organization's past 7nm processor, BM1391.
The new chip is being utilized in fresh Antminer versions -- S17 and T17 -- that is shown later this season.
Since Cointelegraph previously mentioned, Bitmain has lately confronted problems on account of the protracted bear market and two class action suits filed against the business. The Chinese giant allegedly closed down that a blockchain creation centre in Israel, suspended its operations in Texas, along with decreased its operations at the Netherlands within the last couple of months.
Other important mining companies are also facing challenges on account of the crypto market decrease. For example, Western net giant GMO Internet Group disclosed it had been departing the Bitcoin mining gear industry at December 2018, mentioning the substantial Q4 losses.
At precisely the exact same period, United States gambling and pc hardware maker Nvidia, that was among those businesses most influenced from the industry recession and related lack of requirement for mining parts, has lately reported full-year earnings gains despite Q4 declines along with also a"crypto hangover."