Chain Reaction

The company's Bitcoin mining hardware operates under the EL3CTRUM brand. In March 2025, Chain Reaction announced its 3nm EL3CTRUM A31 ASIC, a custom chip targeting sub-10 J/TH efficiency manufactured by TSMC. The A31 underpins the EL3CTRUM E31 platform, a full mining system suite unveiled in October 2025, offered in three cooling configurations: the E31 Air (310 TH/s, 11.2 J/TH), the E31 Hydro (880 TH/s, 9.9 J/TH), and the E31 Immersion (396 TH/s, 11.0 J/TH). Hardware samples are scheduled for delivery in May 2026, with volume shipments targeted for Q3 2026. Chain Reaction has also begun development of a 2nm ASIC for a subsequent product generation.

The second product line centres on the 3PU™, a processor purpose-built to accelerate Fully Homomorphic Encryption (FHE). Unlike conventional encryption schemes, FHE allows computations to execute directly on encrypted data without decryption at any point, which Chain Reaction describes as converting public cloud infrastructure into secure compute environments. The 3PU™ targets regulated industries (finance, healthcare, pharmaceuticals, defence, and energy) and is positioned for deployment within hyperscale cloud infrastructure at providers including AWS, Google Cloud, and Microsoft Azure.

Chain Reaction raised $70 million in a Series C round in February 2023, bringing total capital raised to $115 million. The Series C was led by Morgan Creek Digital, with co-investors including Hanaco Ventures, Jerusalem Venture Partners, KCK Capital, Exor, Atreides Management, and BlueRun Ventures. The company employed approximately 100 people at the time of the raise, with an engineering bench drawn from alumni of Nvidia, Mellanox, Intel Israel, and TSMC.

CEO Alon Webman and CTO Oren Yokev co-founded the company in 2019. Webman previously co-founded Mellanox Technologies, the InfiniBand and Ethernet networking firm acquired by NVIDIA in 2020 for approximately $7 billion. That pedigree shapes Chain Reaction's vertically integrated model: custom ASIC design through to finished hashboards and plug-and-play rack systems for large-scale Bitcoin mining data centres.

In March 2025, Chain Reaction confirmed technology partnerships with BIT Mining Limited and ePIC Blockchain Technologies for next-generation Bitcoin mining systems built on the EL3CTRUM ASIC. With E31 volume production on track for Q3 2026 and a 2nm silicon roadmap already in development, Chain Reaction operates across both the Bitcoin mining hardware supply chain and the emerging market for FHE-accelerated encrypted computation.