Bitdeer develops 4nm bitcoin mining chip for upcoming rig

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The Block2024/03/04 09:16

By:The Block

Quick Take The Nasdaq-listed bitcoin mining firm said that it hopes to support the community in getting prepared for the bitcoin halving event that’s expected to occur in April.

Bitdeer develops 4nm bitcoin mining chip for upcoming rig image 0

Singapore-headquartered bitcoin mining firm Bitdeer Technologies, founded by Jihan Wu, has “successfully tested” a self-designed bitcoin mining chip that will be used in its upcoming mining rig, the Sealminer A1, the company said.

The Nasdaq-listed firm announced on X on Monday that its first crypto mining chip, the SEAL01 was designed with the 4-nanometer process technology from a semiconductor fabricator. The chip could achieve a power efficiency ratio of 18.1 J/TH, the company claimed.

“This powerful chip offers enhanced Bitcoin BTC +5.06% mining performance with minimized power consumption, leading to lower operating costs and a reduced environmental footprint for miners,” Bitdeer said in the X post. The company did not disclose the launch timeline for its new mining rig.

Bitdeer added that the newly designed chip allows it to optimize efficiency, stability and performance in preparation for the upcoming bitcoin halving event that’s expected to occur in April.

Bitdeer shares closed up 2.11% at $6.76 on Nasdaq on Friday.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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