Italian Enel will not Supply Power to Miners

This week Enel was in talks to sell power from renewable energy plants to the Swiss cryptocurrency company Envion AG
02 February 2018   1464

Enel, one of the biggest electricity company in Europe, said it would not supply electricity to the energy-hungry industry of mining cryptocurrencies, adding it has “no interest whatsoever in selling power” for the purpose. The company said it had reached the decision after careful study and analysis.

This week the company was in talks to sell power from renewable energy plants to the Swiss cryptocurrency company Envion AG.

Enel has undertaken a clear path toward decarbonization and sustainable development and sees the intensive use of energy dedicated to cryptocurrency mining as an unsustainable practice that does not fit with the business model it is pursuing.

 

Enel statement

Enel, which owns a majority stake in Spanish utility Endesa, is one of Europe’s top renewable energy players and is focusing on green energy to help offset the crisis in traditional power generation.

We have recently reported that South Korean company Samsung Electronics started manufacturing ASIC hardware for cryptocurrency mining from January 2018.

Bitmain to Announce New ASIC Chip

BM1397 chip requires less energy and is able to achieve efficiency at 30J / TH
18 February 2019   66

This Monday, the Chinese mining company Bitmain announced the next-generation 7-nm chip codenamed BM1397, which, according to it surpasses its predecessors in performance and energy efficiency and is suitable for mining cryptocurrencies on the SHA256 algorithm, including Bitcoin and Bitcoin Cash.

The BM1397 chip requires less energy and is able to achieve efficiency at 30J / TH, which is “higher by 28.6% than the previous 7-nm chip from Bitmain”, codenamed BM1391.

BM1397 is manufactured using TSMC, a Taiwan-based semiconductor product company, which is one of the leading suppliers in the cryptocurrency mining industry.

The BM1397 chip will be installed in the new ASIC miners of the Antminer S17 and Antminer T17 models, the release of which Bitmain promises to announce later. The company does not provide other details of the updated devices in its message.