- NuMiner introduces new NM440 bitcoin miner that uses proprietary and groundbreaking technology
The NM440 establishes a new industry standard as fastest, most energy efficient bitcoin miner
- Hash rate of 440 terahash per second (“TH/s”)
- Power efficiency ratio of 20.2 joules per terahash represents ~75% reduction in energy consumption compared to the average bitcoin miner
NuMiner enters ~$1.7 billion sale agreement with Sphere 3D for 60,000 NM440 miners that are expected to represent ~15% of global network hash rate
- Option for Sphere 3D to acquire an additional 60,000 NM440 miners
- Sphere 3D to power NM440 mining using only renewable energy
- Deliveries of the NM440 expected to commence in the second quarter of 2022
NEW YORK--(BUSINESS WIRE)--NuMiner Technologies Ltd. (“NuMiner Technologies”) and NuMiner Global, Inc. (“NuMiner” or “NuMiner Global”) today announced the launch of NuMiner Technologies’ next-generation NM440 bitcoin miners and NuMiner Global as the exclusive global distributor.
The NM440 combines innovative processing technology and design to introduce the world’s most efficient and powerful miner. The NM440’s leading performance and distinct advantage is driven by groundbreaking proprietary hardware and software.
- Sets a new industry standard with a hash rate as high as 440 TH/s and a power efficiency ratio of 20.2 joules per terahash (“J/TH”).
- Processing hash rate of >3x the recently announced leading miner yet to be delivered, >4x currently available market-leading miners and >8x the average bitcoin miner on market.
- ~75% less energy consumption. Bitcoin mining globally consumed ~121 terawatt-hours of electricity in 2021. If all bitcoin miners installed the NM440, it would reduce the worldwide energy consumption for bitcoin mining by ~75%.
- ~4.5x more profitable than currently available market-leading miners, given superior processing speed and reduced energy consumption.
- Efficiently verifies transaction integrity on the digital public ledger. NuMiner’s solution utilizes reconfigurable AI chips to dynamically adjust the calculation target to maximize profits.
- Enhanced performance reliability due to advanced engineering, circuitry design, component selection and the specialized materials used in manufacturing.
NuMiner prioritizes customers that commit to environmentally friendly cryptocurrency mining practices. Through this commitment, coupled with the company’s innovative technology, NuMiner will enable an industry shift toward renewable and sustainable energy.
The NM440 is being produced in coordination with leading technology suppliers, including Taiwan Semiconductor Manufacturing Company (“TSMC”), Foxconn and Xilinx. Deliveries are expected to commence in the second quarter of 2022.
The performance specifications of the NM440 have been independently validated by leading global testing company TÜV Nord’s certified lab BACnet Testing Laboratories (“BTL”). A summary of the capabilities of the NM440 is available on NuMiner.com.
Preferred Customer Sphere 3D Expected to Represent ~15% of Global Network Hash Rate
NuMiner and Sphere 3D Corp. (Nasdaq: ANY) (“Sphere 3D”) have entered into an agreement pursuant to which Sphere 3D has committed to purchase 60,000 NM440 machines for a purchase price of ~$1.7 billion, to be paid in cash and Sphere 3D stock, with an option to purchase an additional 60,000 NM440 machines.
Once operational, in aggregate, the 60,000 NM440 machines are expected to represent 26.4 exahash per second and ~15% of the global network hash rate1, making Sphere 3D one of the largest bitcoin miners in the global bitcoin mining industry. Consistent with NuMiner’s focus on promoting an industry shift toward sustainable cryptocurrency mining, Sphere 3D has committed to using only renewable energy to power its NM440 machines.
The sale agreement between NuMiner and Sphere 3D will be filed with the Securities and Exchange Commission. To request product availability, visit NuMiner.com/order-now/.
Thomas Hsu, Chief Executive Officer of NuMiner Technologies, said, “We are optimally integrating innovation and IC design, hardware manufacturing and software development throughout the supply chain. NuMiner Technologies is committed to providing products with higher computing power, better energy savings and more market advantages, and will continuously innovate to further enhance our product offerings and maintain leadership in crypto mining. We also welcome suppliers with innovative technology to join our NuMiner alliance. We expect to use world-leading advanced manufacturing process technology and the integration of industrial advantages with suppliers to achieve better product quality and technological breakthroughs.”
“The fast-growing bitcoin mining industry is at an inflection point, and NuMiner is at the forefront – introducing a new technology that will set the industry standard and redefine what it means to be a sustainable bitcoin miner,” said Dr. Anthony Melman, Chair of the NuMiner Global Board of Directors. “The NM440 boasts a 440 TH/s processing hash rate, more than 8x the average bitcoin miner, with ~75% less energy usage, as substantiated by leading third-party testing company TÜV Nord’s certified lab BTL. With superior speed, energy efficiency and reliability compared to other machines available in the market, returns for those utilizing our NM440 are expected to be substantially enhanced. In dramatically reducing the cost and energy consumption of bitcoin mining, we are accelerating an industry shift to renewable and sustainable energy. We are building on that by providing our technology only to customers who commit to environmentally friendly cryptocurrency mining practices. We are proud to lead the industry toward long-term sustainable cryptocurrency mining practices.”
“The introduction of NuMiner’s cutting-edge technology and knowhow is a groundbreaking moment for bitcoin mining throughout the world,” said Iain Kennedy, Chief Executive Officer of NuMiner Global. “We are focused on taking bitcoin mining to the next level through innovation with solutions that apply powerful processing capabilities for faster and more efficient mining, which is key to the blockchain-based verification of bitcoin transaction integrity on the digital public ledger. We are also committed to being at the forefront of environmentally friendly bitcoin mining to ensure the industry has a sustainable future and is contributing to the communities in which they operate. We believe the NM440’s balance of performance and energy consumption represents the future of mining technology.”
Mr. Kennedy continued, “With the industry’s highest and most efficient hash rate, our commitment to sustainable bitcoin mining and industry leading suppliers, NuMiner is strategically and operationally positioned to quickly scale and ultimately become the global bitcoin mining technology leader. NuMiner’s investments in strategic innovation in both hardware and software will also position us to grow our capabilities and enable transformational solutions in cryptocurrencies, blockchain, smart contracts and distributed applications as we expand our reach into exciting new areas for future growth.”
NuMiner Technologies has appointed Richard Lee, formerly TSMC R&D Director, as a special R&D advisor to NuMiner Technologies. “The NM440 is a major step forward in bitcoin mining technology. Using powerful leading chips produced with advanced manufacturing processes, the NM440 represents exciting advances in technical innovation for higher efficiency and lower power consumption. I’m pleased to be working with the innovative teams at NuMiner Technologies,” said Mr. Lee.
About NuMiner Technologies Ltd.
NuMiner Technologies is dedicated to designing the most powerful and efficient crypto mining technology. We specialize in hardware design and development, software development and IC design, and our innovative team of more than 60 employees has significant expertise in technology, including cryptography. Our team has developed proprietary hardware and software that revolutionizes bitcoin mining. With unmatched processing power, significantly reduced energy consumption and enhanced blockchain-based verification processes, the NM440 is designed to enable industry-leading profits for our customers. We are proud of leading the industry toward sustainable bitcoin mining and will continue to work alongside our suppliers to innovate our technology and bring crypto mining into the future.
About NuMiner Global, Inc.
NuMiner Global, Inc. is focused on delivering bitcoin’s most powerful, efficient and profitable mining technology. NuMiner’s next-generation bitcoin mining ecosystem offers unmatched processing power, significantly reduced energy consumption and enhanced blockchain-based verification processes – designed to enable industry-leading profits. In reducing the cost and energy consumption of bitcoin mining and engaging with customers that commit to environmentally friendly practices, NuMiner is at the forefront of promoting an industry shift toward renewable and sustainable energy. Headquartered in New York, NuMiner Global is the exclusive distributor of NuMiner Technologies’ next-generation NM440 miners and all subsequent products. Learn more at NuMiner.com. Follow us on Twitter @NuMinerGlobal and LinkedIn @NuMinerGlobal.
About the NM440
The NM440 combines powerful mining technology and an innovative energy-efficient design to introduce the world’s most efficient and powerful miner. The NM440 sets a new industry standard with a hash rate as high as 440 terahash per second and a power efficiency ratio of 20.2 joules per terahash, reducing energy consumption by ~75%. These metrics have been substantiated by leading third-party testing company TÜV Nord’s certified lab BTL. The NM440 is highly efficient, yielding more bitcoin for less power, and designed with reliability and long-term stability in mind.
1 Based on network size as of December 31, 2021. Source: http://www.blockchain.com.