BitFury has announced it has completed the tape-out for its 16NM ASIC bitcoin mining chips, which were first revealed to be in production in February.
The startup, which has so far raised $60m in VC financing, used the announcement to tout its commitment to green energy, the strength of its immersion cooling process and what it called an ability to compete in a "new era" of bitcoin mining, in which the total computing power of the network exceeds 1,000 petahash.
BitFury CEO Valery Vavilov said:
BitFury further suggested the new technology would likely be deployed in data centers that could be located in North America – a potential first for the company.
In the past, the company has faced criticism for basing its mining operations outside the US, though it has maintained it is primarily concerned with the cost of data center development in places where energy and building costs are beneficial.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.