Would mining be cheaper soon?

New chip could make mining less energy-intensive

photo credit: quinn.anya

Germany has a growing Bitcoin scene with motivated startups with good ideas and capable guys. Good premises for interesting projects. Sebastian Kruse, CEO of the german Asicrising GmbH, ist one of the capable guys and is looking for founders to produce a new microchip, which would make mining less energy intensive and therefore cheaper, too. A great idea which could breath new life into the mining industry.

Mining is becoming more and more expensive. It requires enormous amounts of energy for the computing power and cooling systems. Energy that is costly. Asicrising has found a solution for this problem – an energy-efficient chip that together with specific software will reduce by more than half the energy needed to mine Bitcoin. The chip, called Wolfblood Extreme Efficiency, requires only 0.19 joules of energy for a gigahash compared with 0.37 joules per gigahash, the average so far consumed by the most energy-efficient bitcoin mining chips currently on the market.

To realize this project, Asicrising is in the process of changing its name to CoinBau AG that will be in charge of dealing with investors and the funding operation. Asicrising collaborating with Global Foundries Inc. The company will be in charge of producing the chip in a factory in Dresden, Germany, if Asicrising can raise the $15 million it needs to start production.

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