BIT Mining Limited has announced a collaboration with semiconductor company Chain Reaction to develop next-generation systems for bitcoin mining. According to a press release, the collaboration aims to use Chain Reaction’s ‘EL3CTRUM ASIC’ solution to create hardware that delivers industry-leading performance with low power consumption.
The press release states that Chain Reaction specializes in designing hardware for blockchain, privacy, high-performance computing (HPC) and the cloud. With a team experienced in analog and circuit design, the company has successfully developed 30 ASIC tapeouts for high-volume manufacturing. Chain Reaction’s recently launched EL3CTRUM ASIC is described as a “groundbreaking blockchain chip that serves as the foundation for sustainable, high-performance blockchain technologies.”
Alon Webman, CEO of Chain Reaction, explained what the partnership hopes for, saying “Chain Reaction’s bleeding-edge ASICs will enable BIT Mining to build next-generation mining systems progress in the Bitcoin mining industry toward faster, more power-efficient computing.”
“We believe that through this collaboration we can use our individual strengths to provide the mining community with systems that will improve long-term benefits and capabilities,” reiterated Xianfeng Yang, CEO of BIT Mining. “As the crypto mining industry continues to evolve, BIT Mining looks to develop systems that are more efficient, accessible, and sustainable.”
The systems developed through this collaboration are expected to be launched later this year.
