Chain Reaction
Chain Reaction is an Israeli fabless semiconductor company that designs ASIC processors — the 3PU™ accelerator for Fully Homomorphic Encryption and the EL3CTRUM Bitcoin mining hardware — selling directly to enterprise AI/cloud providers and oil-and-gas energy companies.
- Company typePrivate
- Founded2019
- HeadquartersYoqne`am `illit, Israel
- Headcount101–250
- GTM typeB2B
- OfferingHardware or Manufacturing
What Chain Reaction does
Chain Reaction Ltd. is an Israeli fabless semiconductor company founded in 2019 that designs application-specific integrated circuits (ASICs) for two distinct computational workloads. Its flagship 3PU™ Privacy Processor is a purpose-built hardware accelerator for Fully Homomorphic Encryption (FHE), engineered to perform computation directly on encrypted data without requiring decryption, with claimed orders-of-magnitude acceleration versus CPU-only execution. The processor supports major FHE schemes (BGV, BFV, CKKS, TFHE) and integrates with leading open-source compilers (Google's HEIR, Zama's Concrete) and libraries (OpenFHE, HEAAN, Lattigo, TFHE-rs), and is positioned as plug-and-play infrastructure for AI and cloud data centers handling privacy-sensitive workloads in regulated industries.
The company's second product line, EL3CTRUM, is a Bitcoin mining ASIC offered in air-cooled and immersion-ready form factors, marketed for energy efficiency and high hash throughput. Chain Reaction targets enterprise buyers directly — AI and cloud providers for 3PU™ and oil-and-gas energy companies for EL3CTRUM (including a use case of converting flared associated gas into mining revenue) — via a direct enterprise field-sales motion with no public pricing or self-serve channel. The company is headquartered in Yokneam Ilit, Israel, with additional offices in Tel Aviv, San Jose (USA), and Hsinchu City (Taiwan), and has raised approximately $115 million across four rounds from 2019 to 2023, including a $70 million Series C led by Morgan Creek Capital Management with participation from BlackRock, Exor, JVP, Hanaco Venture Capital, KCK, and Atreides Management.
Chain Reaction firmographics
Firmographics- Name
- Chain Reaction
- Legal name
- Chain Reaction Ltd.
- Website
- https://chain-reaction.io
- Company type
- Private
- Founded year
- 2019
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Chain Reaction is an Israeli fabless semiconductor company that designs ASIC processors — the 3PU™ accelerator for Fully Homomorphic Encryption and the EL3CTRUM Bitcoin mining hardware — selling directly to enterprise AI/cloud providers and oil-and-gas energy companies.
- Ownership category
- akta.pro rank
Chain Reaction industry classification
Industry- Product category
- Cryptographic and Mining Semiconductor Hardware
- NAICS
- Custom Computer Programming Services (541511)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370)
- akta.pro primary industry
- Security & Trusted Hardware ICs (Secure Element/TPM/Crypto) (HDAHABAF)
- akta.pro secondary industries
- Confidential Computing & Hardware-backed Protection (TEE/HSM) (HDADAFAJ), Mining Hardware (ASIC/GPU) Manufacturing & Distribution (FSADAOAD)
Keywords
Where Chain Reaction is headquartered
LocationHeadquarters
- HQ city
- Yoqne`am `illit
- HQ country
- Israel
- HQ region
- Middle East
Offices4 records
Markets served
Chain Reaction business model
Business model- GTM type
- B2B
- Offering type
- Hardware or Manufacturing
- Cost components
- Technology or R&D, Personnel, Supply Chain, Infrastructure, Marketing or Sales
Revenue model
- FHE Processor Sales (3PU™): Sale of specialized FHE hardware accelerators (3PU™) to AI and cloud enterprises requiring privacy-preserving computation. Processors are delivered as plug-and-play hardware for data center integration.
- Bitcoin Mining ASIC Sales (EL3CTRUM): Sale of EL3CTRUM ASIC mining hardware to enterprise energy companies and data center operators. Available in air-cooled and immersion-ready models with modular, customizable configurations.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels6 records
Chain Reaction product offering
Product offeringCore offering
Chain Reaction designs and sells custom ASIC processors for two markets: the 3PU™ Privacy Processor accelerates Fully Homomorphic Encryption workloads to enable computation on encrypted data for AI and cloud customers, while the EL3CTRUM line provides high-performance, energy-efficient Bitcoin mining ASICs for enterprise miners and energy companies. Both product lines are sold as plug-and-play hardware intended for integration into enterprise data center and energy infrastructure.
Product overview
Chain Reaction builds processors for encrypted computation, offering two distinct product lines: (1) 3PU™ Privacy Processor — a Fully Homomorphic Encryption (FHE) hardware accelerator designed to enable practical, scalable encrypted computation for AI and cloud workloads; and (2) EL3CTRUM — a Bitcoin mining ASIC product line providing high-performance and energy-efficient mining hardware with air-cooled and immersion-ready models. The company also provides an integrated software stack that accompanies the 3PU hardware for deployment in data center environments.
Differentiator
Problem solved
Functional benefit
Brands
- 3PU™: Fully Homomorphic Encryption (FHE) processor designed to enable practical, scalable encrypted computation for AI and cloud workloads.
- EL3CTRUM
Products and services
- 3PU™ Privacy Processor
Companies that use Chain Reaction
Customer profileNamed customers1 record
Segments3 records
Ideal customer profiles3 records
Chain Reaction technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
AI capability2 records
Feature3 records
Chain Reaction partnerships and signals
Strategic signalScale indicators1 record
Recent moves7 records
Expansion highlights6 records
Chain Reaction competitors and assessment
Company assessmentDirect peers
- Cornami: Cornami develops scalable computing architectures specifically targeting Fully Homomorphic Encryption acceleration, directly competing with Chain Reaction's 3PU™ in the FHE hardware-accelerator category.
- Duality Technologies: Duality Technologies offers a commercial FHE software platform (OpenFHE-based) for secure data collaboration; it is comparable to Chain Reaction because both target enterprise buyers needing practical FHE for AI/cloud workloads, though Duality is software-only.
- Bitmain: Bitmain is the dominant Bitcoin mining ASIC manufacturer (Antminer line) and the principal direct competitor to Chain Reaction's EL3CTRUM product in efficiency, scale, and miner-buyer relationships.
- MicroBT: MicroBT's Whatsminer is one of the top-selling Bitcoin mining ASIC brands globally, making it a direct competitor to EL3CTRUM in the same energy-efficient mining-hardware category.
- Canaan: Canaan designs and sells Avalon-series Bitcoin mining ASICs and is publicly listed (NASDAQ: CAN); it competes head-to-head with Chain Reaction's EL3CTRUM for enterprise mining buyers.
Emerging players
- Zama: Zama builds the Concrete TFHE compiler and open-source FHE tooling that Chain Reaction explicitly integrates with; Zama is comparable as a complementary/competing FHE stack provider whose roadmap directly affects 3PU™ developer adoption.
- Inpher: Inpher provides a Secret Computing platform built on FHE and secure multi-party computation for enterprise data analytics, comparable to Chain Reaction as a privacy-preserving compute provider targeting regulated buyers.
- Niobium: Niobium builds custom hardware-accelerated confidential computing silicon, making it a closely comparable emerging FHE/confidential-compute hardware peer to Chain Reaction's 3PU™.
Broad incumbents
- Intel: Intel offers confidential computing through SGX, TDX, and TEE-based solutions and participated in Chain Reaction's ecosystem via Intel Ignite; it competes as a broad incumbent addressing the same privacy-preserving compute buyer with a different architectural approach.
- NVIDIA: NVIDIA's H100 and Blackwell GPUs include confidential-compute features and dominate AI infrastructure; it is the de-facto alternative to 3PU™ for enterprises choosing GPU-based acceleration over custom FHE ASICs.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks7 records
Key highlights7 records
Customer concentration
Chain Reaction social profiles
Digital presenceChain Reaction financial estimates
Financial estimateRevenue estimate
Valuation estimate
Chain Reaction leadership team
Management profileNumber of profiles
Profiles5 records
Chain Reaction funding detail
Funding detailFunding overview
Funding rounds4 records
Investors8 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Chain Reaction M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Chain Reaction
What does Chain Reaction do?
Chain Reaction designs and sells custom ASIC processors for two markets: the 3PU™ Privacy Processor accelerates Fully Homomorphic Encryption workloads to enable computation on encrypted data for AI and cloud customers, while the EL3CTRUM line provides high-performance, energy-efficient Bitcoin mining ASICs for enterprise miners and energy companies. Both product lines are sold as plug-and-play hardware intended for integration into enterprise data center and energy infrastructure.
Is Chain Reaction a public or private company?
Chain Reaction is a private company. It is classified as venture growth investor backed and is currently operating.
When was Chain Reaction founded?
Chain Reaction was founded in 2019. It employs 101 to 250 people.
Where is Chain Reaction based?
Chain Reaction is headquartered in Yoqne`am `illit, Israel, in the Middle East region.
How does Chain Reaction make money?
Two revenue lines are on record. FHE Processor Sales (3PU™) is the primary driver. The others are bitcoin Mining ASIC Sales (EL3CTRUM).
Who are Chain Reaction's main competitors?
Direct peers on record are Cornami, Duality Technologies, Bitmain, MicroBT and Canaan. Emerging players are Zama, Inpher and Niobium. Broad incumbents are Intel and NVIDIA.
Does Chain Reaction have an API?
No public API is recorded for Chain Reaction.
What industry is Chain Reaction in?
Chain Reaction's product category is Cryptographic and Mining Semiconductor Hardware. Its primary akta.pro industry code is HDAHABAF, Security & Trusted Hardware ICs (Secure Element/TPM/Crypto), with a secondary code of HDADAFAJ, Confidential Computing & Hardware-backed Protection (TEE/HSM). Its NAICS code is 541511 and its SIC code is 7370.