The Evolution of Bitcoin Hardware

  • Authors:
    Michael Taylor (UC/San Diego)
    Publication ID:
    Publication Type:
    Received Date:
    Last Edit Date:
    2384.009 (University of Michigan)


The Bitcoin cryptocurrency has been an international sensation. This paper tells the story of Bitcoin mining hardware: how a group of early-adopters self-organized and financed the creation of an entire new industry, culminating in the development of ASIC Clouds – datacenters full of ASICs – that had orders of magnitude better performance than what Dell, Intel, NVidia, AMD or Xilinx could provide. These prototypical ASIC Clouds provide a glimpse into planet-scale computing’s future.

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