ASIC (Application Specific Integrated Circuit)

ASIC is an acronym for an application-specific integrated circuit. ASICs are purpose-built silicon chips designed for one particular task. For example, in Bitcoin crypto mining, ASIC mining chips are explicitly built to complete the math equations related to SHA-256, the cryptographic algorithm bitcoin is built on. There are ASIC mining chips created for the express purpose of mining many of the world’s top cryptocurrencies. Cryptocurrency mining is a technological arms race, and new and more powerful ASICs are always being developed to get the competitive edge in mining efficiency per watt of electricity. Most global cryptocurrency mining is done via ASIC machines running in parallel on ASIC farms.