A New Mining Company and ASIC Device Planned for 2018 Claims to be 30% More Efficient Than Current Market Competitors. In 2017 there’s been a lot of talk about new mining technology and powerful chips below the 16nm standard, but really no show. The 16nm semiconductor fabrication utilized within the Bitmain Antminer S9 and the Avalon Miner 741, are still currently two of the best performing machines on the market. The DragonMint 16T miner is the world’s most efficient Bitcoin miner, running faster and cooler than any competing miners. It’s the culmination of over 12 months research and development which has resulted in major advancements in mining technology including a brand new generation of ASIC mining chips. The DM8575 ASIC runs at a staggering 85GH per chip with power efficiency of around 0.075J/GH.
Now the Dragonmint 16T miner produced by the firm Halong Mining is calling itself “the world’s most efficient Bitcoin miner,” even though it has yet to be sold on the open market. According to a report written by the journalist, Aaron van Wirdum, the Dragonmint miner boasts “newly designed chips” and is “30 percent more energy efficient” than the Antminer S9. The Dragonmint development team claims the model’s hash power produces around 16 THS.
On the company’s website, the new chip technology claims to be based on DM8575 ASIC chips which achieve 85 GHS per chip, alongside 0.075 J/GHS of power efficiency. The company details the miner is the “first step in a long strategy” which began in 2016. Over 100 experts helped with the project, explains Halong Mining, including software developers and chip designers.
“The project is motivated by, and driven to help facilitate greater decentralisation in Bitcoin mining at all levels, and make sha256 great again.”
The DragonMint miner is the first step in a long strategy, which started in December 2016, to bring much needed competition and innovation to the Bitcoin mining arena. Over 100 world class experts and leaders in their respective fields have been contributing to and working on the project, including chip designers, electronics hardware specialists, and software designers. The project is motivated by, and driven to help facilitate greater decentralisation in Bitcoin mining at all levels, and make sha256 great again.
Now that we have finished the major prototyping and small run batch zero, we are ready to move onto mass production. This is the first stage of rollout, and simultaneously, relationships are being built with other channels to bring a wide variety of products based on the new ASIC chips.
Unlike many other mining projects, the DragonMint is not a design based on simulations. Around $30 million dollars have already been spent on research, development and prototyping miners, writing software and producing small batches of silicon wafers. The time, complexity and cost cannot be underestimated. The next step is mass production. Producing miners from scratch takes around 4 months including manufacturing the silicon chips. We are taking preorders for the next generation miner for delivery starting in March 2018.
We would like to see other Bitcoin mining hardware manufacturers compete equally although it is currently quite challenging due to both heavy competition and prohibitive startup costs. One of the ways to assist is by publishing board designs and software to allow newcomers to iterate on already advanced design. Production of competitive ASIC chips is a whole different level of difficulty, so we believe this can be alleviated by making chips available in bulk to competitors. Bitcoin is inherently collaborative and we believe the incentives are aligned to promote a healthy mining ecosystem that is still profitable for the participants.
All our strengths aside, we recognise that success in this field is an uphill battle and the game is extremely competitive. Because of the time taken to design new technology and bring it to market, time advantage is a key strategy in order to gain a foothold against formidable competition. For this reason we will defer publishing board designs or software (either directly or through partner channels), until the first batch of miners is near ready for shipping. Because we have considerable costs to recoup, particular details of our process will also not be made available until closer to shipping of the first batches, to give us a better chance of succeeding and being able to drive forward with innovation into the future.