Ebang, a publicly traded manufacturer of bitcoin mining equipment, has announced the completion of a new 6nm ASIC chip. Ebang believes that the new generation of mining chips will give the company’s ASIC products a competitive advantage in the emerging bitcoin mining industry.
Mass production of 6 nm chips before market conditions permit
Bitcoin’s hash rate has reached new heights in recent weeks as the network was announced on the 22nd. Mars 2021 intercepts 190 exahashes per second. The price of bitcoin (BTC) has also helped to increase bitcoin mining profits, but improved mining equipment semiconductors have also significantly increased hashing performance. Companies like Bitmain, Canaan, Microbt and Ebang see strong demand in 2020 and 2021. Most of these manufacturers run out of stock after selling masses of ASIC miners to institutional buyers. The 17th. In March, Chinese company Ebang International Holdings Inc. (Nasdaq: EBON), announced the development of a new 6nm mining ASIC chip.
The standard chips used in some of today’s leading mining equipment are 12 nm, 10 nm and 7 nm. The 6nm chip will be an improvement over current ASIC standards, and Ebang believes the new product will improve the company’s performance. When market conditions are more favorable, Ebang says it will begin mass production of the 6nm chip. Dong Hu, president and CEO of Ebang, believes that the development of the chip marks a turning point for Ebang’s research and development (R&D) team.
The completion of the development of our 6nm ASIC chip is an important milestone in our ongoing R&D efforts over the past few years, Dong Hu said at the announcement. We have invested significant resources in building our research and development team and in product innovation and replication. In the future, we plan to continue developing ASIC chips for more mainstream cryptocurrency engines. We believe this will increase our revenue in the digital currency business and optimize the structure of our product offering in the blockchain industry value chain.
Ebang launches beta investment, shares rise 48% from January 2021
Ebang, a Hangzhou-based OEM, has also launched an invite-only beta version of its cryptocurrency exchange. The beta test began on March 15 and Ebang CEO Dong Hu said the exchange will also accelerate the company’s development. Ebang’s Nasdaq-listed shares have increased in value since the exchange launched. Ebang shares have risen 48.45% since January 2021.
Regarding the production of the new 6nm chips, Ebang stressed that the commercialization of these chips is not guaranteed. The company plans to continue developing ASIC mining units for bitcoin mining in the hopes of introducing them on a large scale. The company faces strong competition from manufacturing companies such as Bitmain, Canaan, Microbt, Innosilicon and Strongu.
What do you think of Ebang’s development of 6nm ASIC chips? Let us know what you think in the comments below.
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