Canaan ASIC Miners With The New Chips 7 to 15 Percent More Efficient

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Canaan to Introduce 5nm ASIC Miners in Q1 2020 With the new chip, the miners will be 7 to 15 per cent more efficient than the predecessors.

Bitcoin miner maker Canaan Creative is in line to receive 5 nm chips to equip its mining devices which are going to hit the market in the first quarter of next year.

Reported by 8btc, the semiconductor chips will be designed and manufactured by Taiwan-based giant TSMC.

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Cannan will be the second company to introduce mining devices laced with the 5nm chips as its competitor and the market leader of ASIC-based miner manufacturer Bitmain is already in the process of making 5nm chip-based Bitcoin miners.

Canaan ASIC Miners Significant improvement in mining technology

5nm semiconductor chips are believed to bring significant improvement over the present top-notch technology of 7nm chipsets. Along with better performance, the new chipsets will also provide benefits in power efficiency and area scaling.

The report detailed that the average yield of TSMC’s 5nm testing chip has reached 80 per cent and the company is planning to enter into mass production of the chips in the first half of 2020.

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The new technology-based chipsets will be 7 to 15 per cent more efficient compared to the latest flagship technology of 7nm.

Canaan is currently the second-largest ASIC-based miner manufacturer following Bitmain. It is known for its Avalon-branded high-performance ASIC-based mining machines for Bitcoin mining, which is designed and manufactured by the firm itself.

The company also went public recently in a New York-based stock exchange amid multiple failures in the Asian market.

Despite the hype over the listing, the company raised $90 million, which is at the lower end of the listing value. Moreover, the stock price of the company plunged over 36 per cent since listing.

Jianping Kong, co-founder of Canaan, however, is optimistic about the company’s future and believes that it will handle the highest market share in supplying Bitcoin miners by the end of 2020.

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