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By Gerelyn Terzo, Benzinga
With bullish predictions for the Bitcoin price once again swirling, some experts believe BTC miners may experience increased demand. Six months have passed since the Bitcoin halving, and if history is any indication, the BTC price could have greater upside potential both in the near and long term.
Bitdeer Technologies Group (NASDAQ: BTDR) is gearing up to provide the Bitcoin mining community with its latest technology, which is increasingly more energy efficient with every passing quarter. As part of its commitment to transparency, the company has shared the successful testing of SEAL02, the latest in a series of Bitcoin mining chips for which it has outlined a series of releases and updates.
Bitdeer has developed its SEAL02 chips in partnership with leading semiconductor company TSMC. After receiving what are known as initial tape-out wafers from TSMC in mid-September, Bitdeer has ushered in results, which indicated an initial verification and prototype of 13.5J/ETH efficiency at low voltage, ultra power saving mode – an encouraging result for the energy-intensive process of BTC mining. SEAL02 chips are to be integrated into Bitdeer’s SEALMINER A2 mining machines, the mass production of which is planned for November.
However, its SEALMINER A1 machines, which also lend themselves to better efficiency, are still in play, too, with mass production and distribution now planned for Q4 2024. Hashrate represents the computational power of a mining rig, and the number of joules per unit of compute (J/TH) represents the efficiency.
Meanwhile, Bitdeer remains in the R&D phase for its third-generation chip, SEAL03, which is expected to continue to unfold with the product release milestone within view. While the performance of the SEAL02 chips was just confirmed from testing tape-out wafers from TSMC, the SEAL 03 prototype is scheduled for a similar process by year-end 2024 amid an improved chip efficiency of 10 J/TH.
Bitdeer Chief Business Officer Linghui Kong stated, “We are thrilled about achieving SEALMINER’s power efficiency target as reflected in our roadmap. Our ongoing commitment to R&D is making possible innovative and superior solutions that will set new benchmarks for efficiency and transparency to benefit the wider mining ecosystem.”
Bitdeer Envisions Further Technological Breakthrough, Eyes AI And HPC Segments
As Bitdeer’s SEAL02 chips move forward to the next phase, the company continues to advance its roadmap as planned. Boasting a total hashrate under management of 17.1 EH/s, Bitdeer also oversees 167,000 mining machines. Bitdeer has mined 164 BTCs as part of its proprietary mining within a total data center portfolio of 895 MW.
The company said its advanced chip design will catapult its SEALMINER product line to triple the energy efficiency of the legacy ASIC miners by H2 2025. Additionally, as Bitdeer engineers continue to innovate and perfect chip design, they expect new technological breakthroughs, the benefits of which are expected to spill over from Bitcoin mining into other segments such as artificial intelligence and high-performance computing (HPC).
Bitdeer has arranged its roadmap so that new chip designs are released nearly every other quarter as it continues to strive for greater energy efficiency for the wider industry. Investors who are interested in learning more about Bitdeer’s financial performance and future growth plans can do so here.
Featured photo by TheDigitalArtist on Pixabay.
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