Ebang Hopes to Capture a ‘Competitive Edge’ After Developing a Next-Generation 6nm Bitcoin Mining Chip – Mining Bitcoin News

Bitcoin.com

The publicly-listed bitcoin mining rig manufacturer Ebang has announced the completion of a new 6nm ASIC mining chip. Ebang believes the next-generation mining chip will give the firm’s ASIC products a “competitive edge” in the ambitious bitcoin mining industry.

Mass Production of 6nm Chips to Begin When Market Conditions Become Suitable

During the last few weeks, Bitcoin’s hashrate has been climbing to new heights as the network tapped 190 exahash per second on March 22, 2021. The price of bitcoin (BTC) has also helped propel bitcoin mining profits, but improved mining rig semiconductors have also increased the hashpower a great deal. Firms like Bitmain, Canaan, Microbt, and Ebang have seen massive demand in 2020 and into 2021. Most of these manufacturers are out of stock after selling mass quantities of ASIC miners to institutional buyers. On March 17, the China-based Ebang International Holdings Inc. (Nasdaq: EBON), announced the development of a new 6nm ASIC mining chip.

How To Get Free Crypto  

The standard chips used today in some of the top mining devices are between 12nm, 10nm, and 7nm. A 6nm chip would be an improvement from today’s ASIC standards, and Ebang thinks the new product will bolster the company’s performance. When market conditions become more suitable, Ebang said it will begin mass production of the 6nm chip. The Chairman and CEO of Ebang, Mr. Dong Hu, believes the development of the chip is a watershed moment for Ebang’s research and development (R&D) team.

“The completion of our 6nm ASIC chip is a significant milestone of our constant R&D efforts in recent years,” Mr. Dong Hu said during the announcement. “We have devoted a lot of resources to building our R&D team and product innovation and iteration. Looking forward, we plan to continue developing ASIC chips designed for more mainstream cryptocurrency machines, which we believe will increase our revenue in the digital currency business and optimize our product offering structure along the blockchain industry value chain.”

Ebang Launches Invite-Only Beta Exchange, Stock Jumps 48% Since January 2021

The Hangzhou mining rig manufacturer Ebang also launched the company’s invite-only beta cryptocurrency exchange. Beta testing began on March 15 and Ebang’s CEO Mr. Dong Hu said that the exchange would also “accelerate the company’s development.” Since the exchange launch, Ebang’s shares listed on Nasdaq jumped in value. Since January 2021, Ebang’s shares have increased in value by 48.45%.

As far as the new 6nm chip production is concerned, Ebang has highlighted that commercialization of such chips is not guaranteed. The company plans to continue developing ASIC mining rigs for bitcoin with hopes to gather widespread appeal. The company has stiff competition with manufacturing firms like Bitmain, Canaan, Microbt, Innosilicon, and Strongu.

Coinbase Banner  

What do you think about Ebang developing a 6nm ASIC mining chip? Let us know what you think about this subject in the comments section below.

Tags in this story
10nm, 12nm, 6nm chip, 6nm chip production, 7nm, ASIC Mining, Bitcoin, Bitcoin (BTC), Bitcoin mining, Bitmain, BTC Mining, Canaan, Ebang, Microbt, mining, Mining Chip

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Read disclaimer

Go to Source
Author: Jamie Redman


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.