As the number of Bitcoins and Bitcoin users increase, Bitcoin mining becomes progressively tougher, requiring tougher and meaner machines with lots of horsepower. Bitcoin mining is the process of verifying Bitcoin transactions on the Blockchain. For rendering the services by contributing processing power, mining communities will receive a portion of newly minted Bitcoin as reward.
In the early days of Bitcoin, our everyday use personal computers were sufficient. But with the growth of Bitcoin network, the need for processing power has increased drastically. Currently Bitcoin miners use special equipment called ASICs. ASIC is an acronym for Application Specific Integrated Circuit, as the name suggests, they are specially built hardware to meet specific needs. ASIC Miners are built keeping the specifications required for mining Bitcoin in mind.
There are many companies across the world who specialize in building ASIC Miners. KnCMiner is one among them. This Sweden based company is known for designing and building ASICs and running eco-friendly data centres powered by hydroelectric power.
KnCMiner has successfully deployed its latest Bitcoin ASIC which was announced last year. The new Solar uses the latest 16nm FinFET 3D node and it is over 6 times faster than the company’s previous 28nm Neptune design. FinFET technology used in Solar makes it more power efficient while allowing higher integration levels. FinFET is known to increase the efficiency by over 150 percent.
The CEO of KnCMiner, Sam Cole was quoted on one of the digital currency news site saying that they have successfully built 4 new chip designs within two years, surpassing Moore’s Law. They continue to develop in a rapid pace.
The new Solar chips will be used in all upcoming KnCMiner data centres while the previous version is being phased out. . These chips are capable of 0.07 w/GHs. KnCMiner is heavily invested in Bitcoin mining technology and they have got multiple data centres supporting their operations. The company has also got a new 18,000 sq. ft. mining facility in the Northern part of Sweden which is slated to go operational in the coming months