New Solution is Poised to Disrupt the Bitcoin Mining Industry with Unrivaled Performance and Efficiency to be Demonstrated at Bitcoin 2023 in Miami
TEL AVIV, Israel – May 16, 2023 – Chain Reaction, a semiconductor company focused on disruptive blockchain and privacy hardware, today announced ELECTRUM, a best-in-class application specific integrated circuit (ASIC) and product line for Bitcoin mining with unprecedented performance and energy efficiency. ELECTRUM is optimized to power the next generation of Bitcoin miners with a solution that provides superior hashing, higher throughput and sustainable use of energy. ELECTRUM will be available to enterprise miners in a variety of form factors – ASICs, hashboards, and systems.
Created from the ground up using a novel circuit design, the first product is an ASIC that delivers industry-leading energy efficiency of 19 J/TH. A full system containing these ASICs delivers hashing performance of 140 TH/s. The ASIC is designed for mining Proof-of-Work cryptocurrencies that use the SHA256 algorithm, such as Bitcoin, and provides much higher throughput and power efficiency than other solutions presently available on the market.
Chain Reaction has carefully crafted a reliable supply chain for the different form factors, taking into account the competitive and geo-strategic nature of present-day integrated circuit supply. The company will also provide high quality client service to miners and serve as a dependable partner.
The product line will be widely available this year, with prototypes to be demonstrated this week at Bitcoin 2023.
“Chain Reaction’s veteran circuit and analog engineering team customized this architecture for optimal power, performance and area,” said Alon Webman, CEO of Chain Reaction. “The ELECTRUM product line is just the beginning of a revolution in compute technologies. We are paving the way for our hardware to set the standard for high performance, as we target blockchain and privacy infrastructure solutions for data centers, hyperscalers and cloud environments requiring massively accelerated compute capabilities.”
The team at Chain Reaction has worked together for decades and accumulated substantial R&D expertise in custom analog ASIC design as well as high-volume production experience via dozens of successful tapeouts. It is this team’s experience, expertise and relationships that enabled the company to develop a novel architecture that demonstrates unprecedented flexibility and features combined with mass manufacturing. These purpose-built solutions enable quicker payback times and scaled computing power, without compromising on sustainability.
“In my twenty years of experience in the enterprise hardware and software tech industries, I have rarely seen such robust execution,” said Yoav Tzruya of JVP, an Israel-based VC firm and investor in Chain Reaction. “The bleeding-edge technology provided by Chain Reaction will revolutionize the mining industry. With their innovative approach to hardware and software design, Chain Reaction’s talented team has an unbeaten track-record that will deliver the best hardware solutions to the market in 2023.”
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. Its 3PU™ (Privacy Preserving Processing Unit) dramatically accelerates real-time operations of Privacy Enhancing Technologies (PETs) on encrypted data, transforming the cloud into a trusted environment. Chain Reaction enables verticals that rely on confidential big data to use the cloud, including financial institutions, health care & big pharma, defense & government, and oil & gas. 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. To learn more about Chain Reaction, visit www.chain-reaction.io.