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"Field Programmable Gate Array" - A digital integrated circuit designed to be configured after manufacture. Essentially allows one chip to be turned into a different chip. FPGAs are a highly power efficient method of mining Bitcoins, though they have a significantly higher initial cost than many alternatives.
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When will FPGAs and ASICs 'replace' GPUs for mining?
Within months of the arrival of the first ASICs, we should see the mining difficulty rise so high that GPU mining is completely irrelevant. ASICs are up to 100s of times more power efficient, if you b …