Bitcoin Brothers launches upgraded services for faster Bitcoin mining

Via the company’s released services, the usual miners are no longer required to invest in their own hardware, and can mine using the Bitcoin Brothers upgraded technology, techcrunch.com reports.

Bitcoin mining is the process by which transactions are approved in the Bitcoin ledger, known as the blockchain, and how new Bitcoins are minted. For every successful verification of a Bitcoin transaction the “miner” is rewarded with 25 Bitcoin (currently worth about USD 8,100).

Founded by an ex-German military cryptologist Mark Welle and his brother Maik, the company is offering to sell mining services using its supercomputers that have processing capabilities of over 6 petahash (Bitcoin mining is measured in petahashes, which is the amount of computing power used to verify transactions on the network).

Bitcoin Brothers is working with TSMC to manufacture its proprietary 3D 16nm FinFET application-specific integrated circuits (ASICs), which the company designed itself. They are more powerful chips designed for very specific functions.

Each of the company’s supercomputers contains 256,000 of its ASICs, a lower energy, more powerful chip and the banks of computers the company is building can scale up to a point where 1.5 exahash is contained on a single console.