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BIT Mining and Chain Reaction Form Collaboration for Bitcoin Hashing Systems
BIT Mining Limited (NYSE: BTCM) (“BIT Mining” or the “Company”), a leading technology-driven cryptocurrency mining company, today announced that it has entered into a collaboration with Chain Reaction, a semiconductor company focused on disruptive blockchain and privacy hardware, to produce next-generation systems for bitcoin mining. The systems, expected to launch later this year, will be based on Chain Reaction’s EL3CTRUM ASIC solution.
BIT Mining is the market leader in next generation architecture and mass production of high-performance, low power systems for the cryptocurrency mining industry. Together, BIT Mining and Chain Reaction are poised to leverage their expertise and knowledge to develop and create a new generation of hardware that will deliver industry leading performance with relatively low power consumption.
Chain Reaction designs hardware for blockchain, privacy, HPC and the cloud. The company has a core team with decades of experience in analog and circuit design, and an impressive history of 30 successful ASIC tapeouts that went directly to high volume manufacturing. Their recently launched EL3CTRUM ASIC is a groundbreaking blockchain chip that serves as the foundation for sustainable, high-performance blockchain technologies.
“Chain Reaction’s bleeding-edge ASICs will enable BIT Mining to build next-gen systems to advance the Bitcoin mining industry towards faster, more power efficient computing,” said Alon Webman, CEO of Chain Reaction.
“We are excited to work side by side with Chain Reaction, a leader in blockchain infrastructure. We believe through this collaboration we can leverage our individual strengths to provide the mining community systems that enhance long-term benefits and capabilities. With the crypto mining industry continuing to evolve, BIT Mining looks to develop systems that are more efficient, accessible, and sustainable,” said Xianfeng Yang, CEO of BIT Mining.
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Ripple Reinforces Commitment to the Middle East with Expanded Presence in the UAE
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Tassat Upgrades Lynq to Avalanche to Scale Institutional Settlement Network
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MOTMX Partners with Uphold to Launch First Pre-Built Crypto-Backed Rewards Product for Financial Institutions
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Ripple and OKX Partner to Expand RLUSD Access and Global Liquidity
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Lightspark Partners with Visa to Bring Stablecoin and Bitcoin-Linked Debit Cards Worldwide
Lightspark, the open global money company, today announced a partnership with Visa, a global leader in digital payments, to enable stablecoin- and Bitcoin-backed Visa debit cards across more than 100+ countries.
SUNRATE Secures Bank Negara Malaysia Licence, Enabling Full-Scale Operations in Malaysia
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NUVA Digital Raises US$5.2M to Accelerate Development of Web3 Real-World Asset Platform NUVA
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COINPAYMENTS and duPont REGISTRY Group Announce Alliance to Power Digital Payment Infrastructure
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Regional Openness and the Shift to Cloud Processing
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TSAM London: MinuteMaster on The Rising Cost of Meeting Inefficiency in Asset Management
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Atos Selected by LCH SA to Migrate its Financial Information Systems to the Cloud
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KAST Appoints Former SEC Official to Lead Policy Communications as Company Targets US Market Growth
KAST, the global financial platform built on stablecoin rails, announced today that Stephanie Allen, a former senior advisor at the U.S. Securities and Exchange Commission, has joined the company as Head of Corporate and Policy Communications.