BitFury Raises $20 Million to Power New ASIC Chip Development
Updated with comment from BitFury CEO Valery Vavilov. BitFury has raised $20m in additional funding to complete development of its 28nm ASIC chip capable of achieving energy efficiency of 0.2 joules-per-gigahash (J/GH) and first announced in September. The pre-Series B round marks the second time this year BitFury has raised $20m in new funding, following its initial Series A in May. The funding was largely contributed by existing investors including venture capitalist Bill Tai, current BitFury board member and former VeriFone CFO Bob Dykes and the Georgian Co-Investment Fund. Google Maps....
Related News
BitFury has announced it has completed the tape-out for its 16NM ASIC bitcoin mining chips, which were first revealed to be in production in February. The chip will achieve energy efficiency of 0.06 joules per gigahash, compared to the 0.2 joules per gigahash of its 28nm predecessor. BitFury suggested the chip will deliver "four times the compute power" of its previous 28NM chip. The startup, which has so far raised $60m in VC financing, used the announcement to tout its commitment to green energy, the strength of its immersion cooling process and what it called an ability to compete in a....
BitFury, the third-largest mining operation by total hashrate, announced in December that it will be mass-producing its custom 16nm ASIC chip and selling the chip directly to consumers. “Each chip will achieve 40-55 GH/s at the highest possible efficiency of 0.055-0.07 J/GH. From 55 GH/s to 180 GH/s the chop follows nearly linear slop of efficiency from ~0.06 J/GH to 0.2 J/GH,” said Valery Vavilov, CEO of BitFury, in an interview with Bitcoin Magazine . Further, the 16nm chip is capable of running with a power supply voltage of 0.35 V. The cooling mechanism used with these mining chips is....
Veteran ASIC chip producer BitFury announced yesterday via Twitter that they are “finally” coming to market with a 16-nanometer chip which will be, reportedly, the fastest chip on record. According to their own website, the chip will produce up to 180 gigahashes per second, per chip. The news mainly affects ASIC miner producers, since small-scale, consumer-facing sales are not the purview of BitFury. Effectively, this would mean a 1 terrahash rig would only require 6 chips total, massively decreasing the size of future mining hardware. For some perspective, one of the earliest 1 TH/s rigs....
BitFury recently announced its completion and roll out of their 16nm ASIC for processing Bitcoin transactions. They are also going to be selling direct to customers large and small, which is a change from the last few generations of their chips. Valery Vavilov the Founder and CEO of BitFury was able to answer a couple questions on the new chip and the....
BitFury has completed manufacturing their new 28nm Bitcoin ASIC miner chip. This a big step from their current 55nm chip. BitFury had a great 2014 bringing in $40 million in venture capital funding. Valery Vavilov, the CEO of BitFury, has also made moves to other parts of the Bitcoin industry partnering with BitGo and looking beyond just processing Bitcoin transactions. Also Read: Bitcoin Mining Company BitFury to Acquire Allied Control For Immersion Cooling. The details of the chip have been discussed since last fall. The current spiking of the global hash rate speculation is that it was....