Bitmain Has Developed an Ethereum ASIC Miner?

A leading Wall Street research firm has slashed price targets for leading chipmakers Nvidia and AMD, claiming that it has received confirmation that cryptocurrency mining hardware manufacturer Bitmain has begun producing Ethereum ASIC miners.

Writing a Monday note to clients, Susquehanna analyst Christopher Rolland said that the firm had recently confirmed that the China-based Bitmain — by far the largest producer of miners that use Application Specific Integrated Circuit (ASIC) chips — is just months away from shipping the first miners compatible with Ethash, the Proof-of-Work (PoW) hashing algorithm used by Ethereum and a variety of other cryptocurrencies.


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