Bitfury group developed a more efficient bitcoin mining chip, the firm announced earlier this week.

Bitfury’s Clarke Application-specific Integrated Circuit (ASIC) chip “offers the strongest performance among Bitcoin Mining Chips and is unparalleled in efficiency,” the company said.

The ASIC Chip, is customised for the SHA256 Algorithm, and garners power efficiency up to 55 mW/GH and a hash rate sitting at 120 GH/s. It has 8,154 rolled hashing cores, integrated controllable clock gen and power on reset of circuit.

CEO Valery Vavilov said the company “is looking at all factors, including silicon housing, chip efficiency, optimal power distribution, cooling designs and speed of development when designing our mining hardware.”

He also spoke very confidently about the returns the device would provide for customers.

According to the product description, ASIC can switch very quickly between tasks, so “the chip uses one task buffer for SHA256 Operations,” the other is filled by a “task-write” command.

The company is looking to integrate the chip into its mining products. They have mining farms in Canada, Norway, Iceland and Georgia. They are trying to install the ASIC at all of these sites.

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