Swedish bitcoin mining hardware manufacturer KnCMiner has deployed its fresh 16 nm bitcoin ASIC, suggesting higher processing speed and energy efficiency.
Sweden-based bitcoin mining hardware producer KnCMiner has introduced the very first 16nm cryptocurrency mining chip. Ter comparison with the existing processors, the 3D architecture of the fresh chip provides higher speed and lower energy consumption.
“Never before ter history has this zuigeling of technology seen the light of day. The stir down to the 16 nanometer 3D FinFET knot represents [a] true step switch te processing capability,” the company said te a press release.
KnCMiner became the very first company that produced 20 nm Neptune chips last year, which provided a significant boost te spectacle compared to the previous 28 nm chips. The fresh ASICs, based on 16 nm FinFET knot, demonstrate a step switch ter processing capability.
“We have a good vormgeving team never standing still. Wij’re going to proceed pushing innovation within processor vormgeving. Wij’ve produced Four consecutive all-new chip designs te only Two years, exceeding even Moore’s Law and wij see no signs of this development slowing down going forward,” KnCMiner’s CEO Sam Cole commented.
Te February, the company raised $15 million te a Series B funding round, led by Accel Fucking partners and venture capital firms GP Bullhound and Creandum. The investment wasgoed expected to be used for expanding its mining capacity and deployment of the fresh 16 nm chip.
Nowadays, it is not effortless for miners to generate phat revenues owing to the high cost of energy necessary for cryptocurrency mining. The launch of the fresh 16nm chips is likely to help mining businesses become more profitable.
The company is also going to launch fresh mining facility te Northern Sweden this year. Besides, it is programma to expand its bitcoin gegevens centers and has already bought extra real estate te Sweden.
Last year, KnCMiner launched its cloud-mining service KnC Cloud that suggested bitcoin online mining contracts powered by the company’s mining facilities near the Arctic Circle. The benefits of the geographical position, including local renewable energy sources and nature cooling, encourage bitcoin firms to look to the region. Moreover, today miners choose to outsource hashing power instead of running huis mining equipments.
Following numerous complaints from its customers, the company faced a group lawsuit last year. KnCMiner wasgoed accused of selling defective hardware, delivering shipments with delays and failing to pay refunds. Besides, the company wasgoed allegedly involved te the breach of contract, false advertisement, public misrepresentation and other illegal activities.
A KnCMiner spokesperson told CoinTelegraph the complaints were more related to the bitcoin price decrease, rather than to the quality of delivered hardware.
“We’ve refunded more than 20 million USD honoring all eligible refund requests. There are many rumors and unsubstantiated claims and reports ter the cryptocurrency-industry, often based on some anonymous source on a forum, and wij are sometimes unfairly accused.”