Will this new bitcoin chip be useful to miners after the next halving?
Bitdeer, a pioneering company in Bitcoin mining and AI cloud solutions, has developed the most efficient Bitcoin mining chip. This chip offers exceptional power efficiency, significantly increasing Bitcoin mining performance while reducing power consumption.
BitDeer says the chip will empower the Bitcoin mining community to take advantage of opportunities following April's Bitcoin halving event.
Bitdeer Flexes the new Bitcoin mining chip
In a recent post by X (formerly Twitter), BitDeer acknowledged the challenges awaiting Bitcoin miners.
He also noted the upcoming Bitcoin halving issue in April, which could temporarily reduce miners' profitability. BitDeer has revealed the efficiency of the SEAL01 chip.
“SEAL01 was designed using advanced 4-nanometer process technology from a world-leading semiconductor manufacturer. In the tests, the chip achieved an exceptional power efficiency ratio of 18.1 J/TH.
If true, this would make the SEAL01 one of the most efficient BTC mining chips on the market. Data from 2023 shows that Bitmain's AntMiner S19 Pro chips can mine at less than 30 J/TH.
Read more: How to Withdraw Cryptocurrencies: A Step-by-Step Guide
The company emphasized that this initiative is part of its efforts to prepare the SEALMINER A1 mining equipment for mass production.
Bitcoin mining companies record positive stock growth
Major Bitcoin mining companies have spent the past year or so for the next Bitcoin halving event that could happen in April.
In the year On February 28, crypto mining company Hut 8 revealed plans to invest $17.3 million to set up a new crypto mining facility in Texas.
BeenCrypto recently reported that the halving is expected to double the average cost of mining a single bitcoin, from $30,000 to $60,000.
In the year On February 28, bitcoin miner Marathon Digital saw its share price rise following the announcement of an annual profit of $151.8 million in the final quarter of last year.
At the time of publication, Mara is priced at $27.
During the earnings call, Marathon Digital reported Q4 2023 net income of $151.8 million per share. This represents a significant change from the net loss of $391.6 million recorded in Q4 2022.
Read more: How to build a mine: a step-by-step guide
Bitcoin mining companies' primary expenses include electricity, hosting, depreciation of mining equipment, sales, and general and administrative expenses.
The post Will this new bitcoin chip be good for miners after the next halving? It appeared first on BeInCrypto.
