Bitcoin Mining Giant Bitmain to Release Next Generation ASICs S15 and T15

Bitmain, a dominant, Beijing based bitcoin mining firm and one of the most valuable companies in the cryptocurrency industry, announced its launch of next-generation application-specific integrated circuit (ASIC) chip miners which will be available for sale on November 8. This revelation was made via the firm’s Twitter handle on Tuesday, Nov. 5.

ASIC chips are geared to compute optimally for a specific hashing algorithm and the new Antminer S15 and T15 machines will be powered by its SHA256 algorithm, which is based on 7nm Finfet semiconductor manufacturing technology.

Details on the new Antminers are rare, as the company’s website offers little or no information for now. Yet we are not totally clueless about the new ASIC’s. Bitmain CEO and co-founder, Jihan Wu delivered a keynote lecture in September where he outlined that the new chip integrates “more than a billion transistors,” using a special circuit structure and low power-intensive technology to optimize efficiency. He asserted that tests revealed that the chip can achieve a ratio of energy consumption to the mining capacity that is as low as 42J/T.

Bitmain’s announcement comes amid trying times as the titans of the crypto world are all in stiff competition to stay ahead in the area of advance mining hardware. Sometime in September, one of these giants, the Bitfury Group, released its own 14nm ASIC chip called Bitfury Clarke, which is customized for SHA256 Bitcoin mining. Bitfury’s chip is expected to ‘execute a hash rate up to 120 gigahashes per second (GH/s) and a power efficiency rate as low as 55 millijoules per gigahash (mJ/GH).’

In the face of such competition and amid the propaganda of false information on its funding status being circulated among its investors, Bitmain pushed to raise funds through an initial public offering. It officially filed for an IPO on the Stock Exchange of Hong Kong (HKEX) in an offering that is expected to be the largest in the industry’s history, at the end of September.

Lots of members of the cryptocurrency community have accused Bitmain of spreading false claims about its funding. However, regardless of the funding commotion and the attendant legal implications, Bitmains new processor will compete with a number of other bitcoin-focused ASICs, including the latest addition to the fray: Bitfury Clarke