Bitdeer is revolutionizing the bitcoin mining industry with its new ASIC design, promising to disrupt the market with unprecedented power efficiency and transparency.
The world of bitcoin mining is undergoing a significant transformation with the emergence of Singapore-based miner Bitdeer. The company has big plans to shake up the Application-Specific Integrated Circuit (ASIC) market with its new design and a greater commitment to transparency.
BitDeer is a cloud-based mining platform that allows users to mine cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.
The platform provides users with access to a network of high-performance computers, eliminating the need for expensive hardware and maintenance.
BitDeer offers a range of mining plans, including flexible and fixed-term options, allowing users to choose their preferred mining schedule and payout frequency.
A New Era in ASIC Efficiency
ASIC chips have been the backbone of the bitcoin mining industry for years, but they have remained largely unchanged since 2014. Bitdeer is now producing a brand new chip design with its SEALMINER A4, which is expected to have an impressive power efficiency of 5 J/TH. This represents a significant leap forward in efficiency and could potentially disrupt the current market dominance of Bitmain.
Increased Transparency
Bitdeer aims to bring more transparency to the ASIC manufacturing process, which has been criticized for being opaque and difficult for end-buyers to plan. The company’s head of capital markets and strategic initiatives, Jeff LaBerge, believes that increased visibility into ASIC production will help miners plan new hardware shipments and make it easier to predict Bitcoin’s difficulty growth.
A New Architecture
Bitdeer‘s Chief Strategy Officer, Haris Basit, is leading a team of engineers to create a completely new architecture for its ASICs. The company wants to create a single-digit efficiency range, which means using less power while maintaining high performance. This requires significant advancements in chip design and manufacturing.
Partnership with TSMC
Bitdeer‘s research team has partnered with Taiwan Semiconductor Manufacturing Company (TSMC) to produce the new ASIC chips. The partnership is crucial as TSMC is the largest and most advanced chip manufacturer in the world. Bitdeer spends approximately $6-8 million on research per quarter, which is a significant investment in its R&D efforts.
Advantages for Miners
Bitdeer‘s production cycle tends to average at six to seven months, allowing miners to quickly recuperate their funds and make a profit. The company also offers advantages for its own mining operations by producing ASICs that can be sold or used in-house.
Aiming for the Top
Bitdeer aims to give Bitmain and MicroBT a run for their money and disrupt the duopoly of the ASIC market. With its new design and commitment to transparency, the company is well-positioned to become the top player in the market.
- coindesk.com | How Bitdeer Is Transforming Bitcoin Mining Machines
