BIT Mining is Designing Systems for
Next-Generation of Miners Based on Chain Reaction's Cutting-Edge
EL3CTRUM ASICs
AKRON,
Ohio, May 19, 2023 /PRNewswire/ -- 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.
About BIT Mining Limited
BIT Mining (NYSE: BTCM) is a leading technology-driven
cryptocurrency mining company, with a long-term
strategy to create value across the cryptocurrency
industry. Its business covers cryptocurrency mining,
mining pool, data center operation and mining machine
manufacturing. The Company owns the world's top blockchain browser
BTC.com and the comprehensive mining pool business operated under
BTC.com, providing multi-currency mining services including BTC,
ETC and LTC. The Company also owns a 7-nanometer
cryptocurrency mining machine manufacturer, Bee
Computing, enabling the Company's self-efficiency through vertical
integration with its supply chain.
For more information, visit https://btcm.group/ or contact
ir@btcm.group
About Chain Reaction
Chain Reaction is engineering the future of disruptive
blockchain and privacy technologies. The company accelerates
compute performance, enabling organizations to adopt and scale
solutions to the world's most complex problems. Partnering with
cloud and data centers, Chain Reaction transforms compute
infrastructure with custom ASICs and systems that optimize for
low-power, high-performance compute. Purpose-built and
custom-designed, its solutions power the next generation of secure,
scalable, and green computing to help protect people, privacy, and
the planet.
For more information, visit www.chain-reaction.io or contact
info@chain-reaction.io
Media Contacts
chainreaction@fusionpr.com
Safe Harbor Statements
This news release contains forward-looking statements within the
meaning of Section 21E of the Securities Exchange Act of 1934, as
amended, and as defined in the U.S. Private Securities Litigation
Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will", "expects", "anticipates",
"future", "intends", "plans", "believes", "estimates", "target",
"going forward", "outlook" and similar statements. Such statements
are based upon management's current expectations and current market
and operating conditions and relate to events that involve known or
unknown risks, uncertainties and other factors, all of which are
difficult to predict and many of which are beyond the Company's
control, which may cause the Company's actual results, performance
or achievements to differ materially from those in the
forward-looking statements. Further information regarding these and
other risks, uncertainties or factors is included in the Company's
filings with the U.S. Securities and Exchange Commission. The
Company does not undertake any obligation to update any
forward-looking statement as a result of new information, future
events or otherwise, except as required under law.
For more information:
BIT Mining Limited
ir@btcm.group
ir.btcm.group
www.btcm.group
Piacente Financial Communications
Brandi Piacente
Tel: +1 (212) 481-2050
Email: BITMining@thepiacentegroup.com
View original
content:https://www.prnewswire.com/news-releases/bit-mining-and-chain-reaction-form-collaboration-for-bitcoin-hashing-systems-301829444.html
SOURCE BIT Mining Limited