NEW YORK, June 19, 2018 /PRNewswire/ -- Today, Coinmint, a firm that utilizes data servers to process digital currency transactions, and Innosilicon, a semiconductor design firm specializing in cryptocurrency mining ASICs, announce their partnership that marries the largest global mining capacity with the most efficient mining technology in efforts to corner the digital currency processing market.
Innosilicon is the industry leader in designing and manufacturing specialized cryptography servers that are required for Proof-of-Work blockchains such as Bitcoin, Ethereum, ZCash, and other leading digital currencies. Innosilicon's equipment is unsurpassed in performance worldwide. The company's innovative approach and hardware allows for a new product to be launched every three months. Its latest mining equipment, which are currently operating in Coinmint's facilities, provides one terrahash of Bitcoin mining power per 85 watts -- 15% more efficient than any competing product. Its latest ZCash mining equipment is up to thirty times more efficient than GPUs.
Coinmint is the industry leader in digital currency data centers. Its 1340-acre, 435-megawatt site flagship facility that recently opened in Massena, New York, is almost triple the size of the next largest facility and is the largest capacity digital currency data center in the world. The company's blockchain infrastructure services several prominent digital currencies including Bitcoin, Ether, Litecoin, Dash and ZCash.
This long-term partnership, enables both parties to be the de-facto dominant players in the space, providing for a full buildout of the Massena facility in record time, while beginning to work on similar facilities to ensure their position on top of the industry, for years to come.
"The performance of our latest ASICs are on-par with the infrastructure Coinmint is implementing, so the partnership is a natural fit," said Innosilicon VP of Engineering, Roger Mao. "The Coinmint team are titans in the digital currency data center space. So, this partnership will bind the best miner with the best mining operation and aim to generate the highest return with the least amount of risk."
"We have been working with Innosilicon since Q4 of 2016, initially just as a customer, but as the relationship grew, it was only natural to take it to the next level," said Prieur Leary, Coinmint CTO. "They not only have the most efficient and advanced ASICs available, the dynamic nature of their team has accommodated us in unimaginable ways, a sincere requirement for the variables we face in today's market."
The partnership between Coinmint and Innosilicon was a crucial part of the commencement of operations at the Massena facility.