Bitmain Technologies has announced a new iteration of its 7-nanometer Bitcoin mining chip. The cryptocurrency mining hardware behemoth says the new and improved 7-nm chip offers greater energy efficiency for mining operations.

More Energy Efficient Bitcoin Mining

The company announced the news in a blog post published on Monday (February 18, 2019), on its official blog. According to the statement, the new BM1397 chip offers faster and cheaper cryptocurrency mining.

Taiwan Semiconductor Manufacturing Company (TSMC), Bitmain’s chip supplying contractor, manufactured the chip using the former’s 7nm FinFET process. Bitmain says its new class of 7-nm chips is designed for cryptocurrencies like Bitcoin and Bitcoin Cash that use the SHA256 Proof-of-Work (PoW) mining algorithm.

According to the company, the new mining processor…

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