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Bitmain Announces New 7nm Bitcoin Mining Chip With 29% More Efficiency

On Feb. 18, mining rig manufacturing giant Bitmain Technologies announced its next-generation 7nm ASIC chip for mining SHA-256 cryptocurrencies like BTC and BCH. According to Bitmain, the mining chip, called the BM1397, is more efficient when mining proof of work (PoW) coins and the new chips will be installed in the latest Antminer series of devices.

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Bitcoin Surges To $3,775 For First Time In A Month As The Market Regains $7 Billion

Bitcoin has registered a 4.1 percent growth in the past 24 hours to trade at $3.775 at press time. The surge comes after a rather slow and uneventful week. In the past week, bitcoin’s price was unable to break away from the $3,660 level achieved on February 8. However, since hitting a yearly low at $3,393 just eight days ago, the currency has regained 11.5 percent.

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