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Sfards Nearing Release of New Miner

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Sfards is a name likely familiar to Coin Fire readers. The company is a result of a merger between Gridseed and Wiibox and was funded by Matrix Partners China and Li Xiao Lai, one of the largest holders of bitcoin in China. Currently, Sfards is beginning the tape-out process for a new chipset to power the next generation of ASIC miners built by the company.

The new chipset entering the tape-out process is a 28nm chipset capable of dual-mining SHA-256 and Scrypt algorithms simultaneously. This places the new SF3301 in the same league as the former Gridseed orbs and blades that proved popular with miners in the past.

The 28nm size isn’t the smallest chipset that has ever been announced. Cointerra previously announced a new 16nm system before the company defaulted on debts and ultimately filed for bankruptcy protection. However, this is the first 28nm chipset to offer dual-mining of both algorithms in this size.

Chipsets that offer mining of multiple algorithms are an even more important part of the mining process since they allow miners to remain profitable for a longer period of time. They also offer a distinct advantage in allowing miners to spread the risk over multiple cryptocurrencies at the same time. Some miners have mined both altcoins and bitcoins at the same time, using the altcoins to cover electricity cost without having to shutdown the bitcoin mining.

The company does not offer preorders for the new SF3301, but they currently expect to begin shipping the new miners in April 2015.

Coin Fire is a cryptocurrency news site started on June 6th of 2014. The site focused on hard-hitting investigative stories. Coin Fire was acquired by 99Bitcoins on October 2015.

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