7nm ASIC chips could revolutionize the bitcoin mining industry, and one company called GMO Internet claims it has already created such a chip.
The long-awaited 7 nano-meter application specific integrated circuit (ASIC) chip would vastly reduce power consumption and make mining more decentralized. Many believe the smaller chips could revolutionize the mining community, helping to distribute power among individual miners instead of funneling power into centralized mining corporations (even like the mining as a service platforms).
GMO Internet is a cryptocurrency mining company first announced in September 2017. Earlier today, the Japan-based company announced the beginning of development of 7-nanometer (nm) semiconductors designed specifically for bitcoin mining.
To be clear, GMO Internet announced the start of development of the chips. It’s not clear how far along the company is, or if they’ll even be the first to launch a 7nm chip. Despite the lack of a real announcement, the story is making headlines across the bitcoin community.
GMO Internet will reportedly use its 7nm ASIC chips in the company’s own mining operations.
At the same time, GMO has announced plans to produce and sell ASIC chips to consumers, including 7nm ASICs that emphasize low power consumption, high hashrate, and decentralized mining – so clearly, the company is confident about completing development of its 7nm chips sometime in the near future.
“We are developing high performance computers (mining boards) for mining with our alliance partner who possesses semiconductor design technology,” explained GMO Internet president Masatoshi Kumagai in a press release.
“We will use the latest technology to create 7nm chips. As for the chips to be used, we are currently working on research and development with our partner, equipped with semiconductor design technology.”
Kumagai also revealed some technical specifications behind the chips. Kumagai stated that the chips will reduce power consumption compared to other ASICs, for example, while delivering higher performance:
“It will be possible to reduce power consumption compared to the existing mining machines with the same performance, and achieve a computational performance of 10TH/s per chip. Each card will be able to mine at a projected 8 terahashes per second or more with a power consumption of only 300 watts.”
GMO Internet has previously created 12 nm Fin FET Compact (FFC) chips. Now, they seek to take the concept a step further with their 7nm ASIC chips.
Ultimately, GMO Internet is one of several major companies trying to be the first to release a 7nm chip. Intel, Samsung, and other major names (Nvidia and Canaan) are also competing to be the first to launch such a chip. Today’s leading bitcoin mining ASIC chips typically use semiconductor chips sized between 14 and 16nm.
A 7nm chip would transform the mining industry and the overall computing industry by almost quadrupling efficiency. The 7nm conductor is very small but still able to contain over 20 billion transistors, which means deices can perform more complex calculations.
Stay tuned for more information as we learn more about the development of 7nm chips and how those chips could revolutionize the bitcoin mining industry.
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