BIT Mining And Chain Reaction Form Collaboration For Bitcoin Hashing Systems
Portfolio Pulse from Happy Mohamed
BIT Mining Limited (NYSE:BTCM) has entered into a collaboration with semiconductor company Chain Reaction to produce next-generation systems for bitcoin mining based on Chain Reaction's EL3CTRUM ASIC solution. The systems are expected to launch later this year, offering industry-leading performance with relatively low power consumption.
May 19, 2023 | 1:07 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
BIT Mining (NYSE:BTCM) collaborates with Chain Reaction to create next-generation bitcoin mining systems using EL3CTRUM ASICs, aiming for industry-leading performance and low power consumption.
The collaboration between BIT Mining and Chain Reaction is expected to result in next-generation bitcoin mining systems with improved performance and lower power consumption. This partnership could strengthen BIT Mining's position in the cryptocurrency mining industry and potentially increase demand for their products, leading to a positive short-term impact on their stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100