Key Points
- Bitdeer Technologies Group successfully tests its latest Bitcoin mining chip, SEAL02, achieving a power efficiency ratio of 13.5 J/TH.
- The chip will be integrated into Bitdeer’s upcoming SEALMINER A2 mining machines, with mass production starting in November 2024.
Bitdeer Technologies Group has successfully trialed its SEAL02 chip, achieving a significant efficiency target in Bitcoin mining.
The announcement was made on September 26, revealing that the (BTC) mining chip had been successfully tested.
Efficiency of the SEAL02 Chip
The SEAL02 chip achieved a power efficiency ratio of 13.5 joules per terahash (J/TH), marking a significant milestone in Bitdeer’s SEALMINER technology roadmap initiated in June 2024.
The chip was developed in collaboration with TSMC, a leading semiconductor manufacturer, using one of the most recent technologies.
During prototype testing, the chip’s performance was confirmed, showing its effectiveness in a power-saving mode.
Bitdeer’s stock (ticker symbol BTDR) has risen over 8% at the time of the announcement.
Bitdeer’s Future Mining Plans
The SEAL02 chip is set to be incorporated into Bitdeer’s forthcoming SEALMINER A2 mining machines, with mass production scheduled to commence in November 2024.
Bitdeer is also working on its next chip, SEAL03, which is progressing as planned.
In May, Tether (USDT) signed a subscription agreement with Bitdeer to buy up to $150 million worth of shares in a private placement, including 18.6 million Class A shares and a warrant for an additional 5 million shares, raising $100 million, with a potential for another $50 million if the warrant was exercised.
Bitdeer’s team of engineers, who focus on various areas such as ASIC design, algorithm development, and platform architecture, are contributing to the security of the Bitcoin network.
Bitcoin mining involves the use of computers to solve complex problems that verify transactions on the blockchain. The more efficient a mining chip is, the less power it uses to earn Bitcoin, which can save costs for miners and reduce energy consumption.