Canaan to start supplying 5nm ASIC miners from TSMC in Q1 2020
After successfully testing 5nm chips by Bitmain, another major Chinese miner decided to follow a similar path. Canaan intends to become the world’s second largest cryptocurrency mining equipment manufacturer to equip its products with the appropriate chips. This will happen in the first quarter of 2020, writes 8btc.
According to the publication, the listing of the company’s securities allowed it to gain confidence among the tech industry – Canaan will become the only major mining equipment manufacturer to partner with TSMC and Samsung. TSMC chips are expected to bring significant benefits to Canaan devices in terms of performance and power consumption.
Jianping Kong, co-founder of Canaan, confirmed that the IPO opened up new opportunities for his firm to work with suppliers and attract investment. However, CAN shares have plummeted nearly 50% since the start of trading.
Bitmain tested the world’s first 5nm chips for cryptocurrency mining this month. They will enter mass production in the first half of 2020 and will increase equipment efficiency by 7-15% compared to 7nm chips..
Previously, TSMC cut the amount of production capacity allocated for the production of mining chips in favor of companies such as Apple, Hisilicon and Qualcomm.
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