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Bitmain and Canaan to Reveal 5nm Bitcoin Mining Chips in 2020

Two of the largest bitcoin mining chip manufacturers have plans to equip their products with 5nm chips in the near future. Just recently, China-based manufacturer Bitmain purportedly produced the world’s first 5nm test-grade bitcoin mining chip and more efficient mining rigs will see mass production next year. The firm Canaan also recently announced that the company will have access to 5nm semiconductors by Q1 2020.

Also Read: Mining Report Shows 65% of Bitcoin’s Hashpower Stems From China

TSMC’s 5nm Process Is Ahead of the Game

Last January, the Taiwan Semiconductor Manufacturing Company (TSMC) reported at its annual conference that the company’s 7nm node (N7) was operating under capacity. On top of all this news, next-generation computer makers, iPhone distributors, and bitcoin mining rig manufacturers sought 7nm chips in mass quantity this year creating massive demand. TSMC expected revenue to increase slowly in 2019, but the last two quarters saw better revenue performance than expected. Despite the issues with the company’s 7nm process, TSMC has continuously signaled confidence in its 5nm (N5) process roadmap.

Bitmain and Canaan to Reveal 5nm Bitcoin Mining Chips in 2020

In December, at the IEEE IEDM Conference, the firm discussed its 5nm process in high regard alongside Intel’s slideshow describing 2nm and 1.4 nm chips by 2029. TSMC noted huge differences between the 7nm and 5nm process as the 7nm yields just a touch below 100 million transistors per square millimeter (mTr/mm2). The 5nm technology has shown an average yield of 80%, with a peak yield per wafer of 90%. The Taiwan foundry’s 5nm test chips had shown a die size of 17.92 mm2.

Bitmain and Canaan to Reveal 5nm Bitcoin Mining Chips in 2020
TSMC’s 5nm chips will perform 15% faster than the 7nm predecessors.

Coming Soon: Bitmain and Canaan 5nm Equipped Bitcoin Mining Rigs

Following the details about TSMC’s 5nm process, two of the largest bitcoin mining rig manufacturers in the world revealed that they would soon be equipped with TSMC’s 5nm chips. Local reports from China disclosed that the company Bitmain Technologies has completed the first 5nm test-grade bitcoin mining chips. At the moment, Bitmain products use TSMC’s 7nm process for the latest 2019 Antminer versions. In October, Bitmain’s CEO Jihan Wu discussed the 5-nanometer technology at the World Digital Mining Summit held in Frankfurt. Various sources have said that Bitmain will be equipped with 5nm by early 2020 and products are set for mass production.

Bitmain and Canaan to Reveal 5nm Bitcoin Mining Chips in 2020

Following discussions concerning Bitmain’s upcoming ASIC rigs, regional reports revealed that Canaan will also have 5nm chips by the first quarter of next year. The 5nm chips will improve performance by 15% and the wafers will stem from the Taiwan-based semiconductor foundry. However, Canaan is a Chinese mining rig manufacturer that purchases semiconductors from both Samsung and TSMC. 8btc editor and reporter Vincent He stressed that Canaan was one of the first companies to reveal its 7nm test-grade mining chip before lots of companies announced use of the semiconductors. The report further detailed that the cofounder of Canaan said that the firm will “have a greater grasp of the supply chain and more capital investment after going public.”

Bitmain and Canaan to Reveal 5nm Bitcoin Mining Chips in 2020
Reports detail that TSMC is ahead of the competition and will have 5nm (N5) semiconductors in mass production by 2020.

The news of both Bitmain and Canaan steadfastly working to produce mining rigs equipped with next-generation 5nm chips shows how fast the mining industry is growing. With the 7nm process alone in 2019 mining devices have improved a great deal as far as efficiency is concerned. recently reported on how 2019’s bitcoin miners are 5x faster than predecessors. If it’s true that both companies are planning to produce 5nm equipped models in early 2020, then other manufacturers like Microbt, Innosilicon, and Ebang will likely follow suit.

What do you think about Bitmain and Canaan possibly producing 5nm equipped bitcoin mining devices in early 2020? Let us know what you think about this subject in the comments section below.

Disclaimer: This article is for informational purposes only. It is not an offer or solicitation of an offer to buy or sell, or a recommendation, endorsement, or sponsorship of any products, services, or companies. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

Image credits: Shutterstock, Extremetech, Anandtech, Bitmain, Canaan, TSMC, Wiki Commons, Fair Use, and Pixabay.

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5nm, 5nm Chips, 5nm Process, 7nm Process, ASIC Manufacturers, Bitcoin Miners, Bitcoin Mining Rigs, Bitmain, Blockchain, BTC, Canaan, Cryptocurrency, Ebang, Innosilicon, Manufacturers, Microbt, mining, mining bitcoin, Samsung, Semiconductors, TSMC
Jamie Redman

Jamie Redman is a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open source code, and decentralized applications. Redman has written thousands of articles for about the disruptive protocols emerging today.

Jamie Redman , 2019-12-27 01:20:00 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.

While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock

Nick Chong , 2019-11-10 12:00:38

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