BIT Mining Limited has announced its collaboration with semiconductor company Chain Reaction to develop next-generation Bitcoin mining systems. according to press releasethe collaboration aims to take advantage of Chain Reaction’s ‘EL3CTRUM ASICThe solution to creating devices that deliver industry-leading performance with low power consumption.
The press release states that Chain Reaction specializes in designing blockchain, privacy, high-performance computing (HPC) and cloud hardware. With an experienced team in analog and circuit design, the company has successfully produced 30 ASIC tapes for mass manufacturing. The recently launched EL3CTRUM ASIC is described by Chain Reaction as “a leading blockchain chip serving as the foundation for sustainable, high-performance blockchain technologies.”
Chain Reaction CEO Alun Weibmann elaborated on what the partnership hopes to achieve, saying that “Chain Reaction’s cutting-edge ASICs will enable BIT Mining to build next-generation systems to advance the bitcoin mining industry towards faster and more energy-efficient computing.”
“We believe that through this collaboration we can leverage our individual strengths to provide systems for the mining community that enhance long-term benefits and capabilities,” emphasized Xianfeng Yang, CEO of BIT Mining. “As the digital currency mining industry continues to evolve, BIT Mining is looking to develop systems that are more efficient, accessible, and sustainable.”
The systems developed through this collaboration are expected to be launched later this year.