The latest 5 nanometer chip from the mining equipment manufacturer Canaan will compete with the popular ASIC chips by Bitmain. The new chips should improve the mining machines in Q1 2020 so let’s see how they can do so in the blockchain news today.
The Chinese industry news outlet 8BTC has reported on December 24 that the new ASICs will have a lot of advantages compared to the previous generation. However, the new 5 nanometer chip manufacturing process is expected to further improve performance, power, and area scaling. The company expects to scale the production of the new product series much faster than it did with the 7NM chips. The number of nanometers refers to the size of the features of the chips which means that 5nm approaches what could be conventional electronics. For scale, 1 nanometer is basically equivalent to the width of two silicon atoms.
In the future, as the chips become smaller, it could become possible to fit much more transistors in one silicon die of the same size and in the meantime, the electric current has to travel much less in the circuit to perform one calculation which means that the efficiency is improved and the heat amount is also decreased once the features get smaller. Canaan is one of the crypto-related companies that went public with a $90 million initial public offering back in November. The company, however, The shares of the BTC miner producer Canaan recently crashed by 40% on Nasdaq, which was probably caused by the unceasing pressure on Bitcoin (BTC) price.
With the anticipated block reward halving, scheduled for May of 2020, and the scarcity of positive price movements, many could decide to withdraw before they start suffering losses. Though, the influence of the battle about bitcoin price goes above and beyond just miners. Mining equipment makers are suffering difficulties also, with the Chinese company Canaan being the best exemplar of this. The mining equipment producer recently suffered a huge stock price crash.
Also, While many believed that the company will raise up to $100 million at a USD 1.6 billion market cap, the BTC mining equipment giant raised only $90 million after pricing the US IPO at the bottom of the marketed range according to the Reuters Data. More than 14 investors indicated an interest rate of 5 percent in the shares.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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