Swedish mining hardware firm KnCMiner is deploying a new bitcoin ASIC it says will be a "game changer" for the industry.
First announced last November, the 16nm Solar is six times faster than the company's previous 28nm design. Unlike conventional 'flat' chips, its components are stacked three-dimensionally to increase efficiency and processing speed.
KnCMiner, which raised a $15m Series B in February, also unveiled details of a new mining facility in Boden, Northern Sweden. The 18,000-sq ft warehouse – roughly the size of four basketball courts – is scheduled to launch this September.
All upcoming data centres will run exclusively on the 16nm Solar, Cole told CoinDesk, with all 28nm chips being "phased out".
At a time of declining profitability and squeezed margins, efficiency is paramount as mining firms jostle for economies of scale.
The company says the "environmentally friendly" chip, capable of 0.07 w/GHs, will increase the efficiency of its industrial mining farms by six to eight times.
about mining centralisation, the firm said its increased hashing power, which will push the overall hashrate higher, will also bolster the network as a whole. Cole told CoinDesk:
When the Solar was first announced, the ASIC pioneer suggested it would bolster the consumer hardware and cloud services offered by KnCMiner.
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