Syan are a relative newcomer to the world of crypto-currency mining hardware, but have made waves in the market with their new STA1220 ASIC Bitcoin mining chip, which, due to its revolutionary 14nm format, is approximately 20% more efficient in results-to-power-usage terms than their nearest competitor. And this week Syan are celebrating the signing of a funding agreement enabling them to commence design and testing of the newest addition to their hardware stable – a SCRYPT ASIC chip for use in the forthcoming Vega Home Litecoin Miner, a machine which Syan Technologies say will take Litecoin mining to the next level.
“The funding is now in place and we’re ready to roll. This is very much a ‘now’ business,” says Koji Tanaka, Chief Technology Officer of the Zahrani Group and Hong Kong based Syan Technologies’ spokesman. “We were anticipating having to wait until the market had been tested by the advance orders for our forthcoming Bitcoin Miner, but the reception within the industry and the press has been so positive we decided to take the plunge and start on the next chapter. Using the valuable experience we have gained in the design and development of the STA1220, we believe that we will not only beat the currently available SCRYPT ASICs on economy, but also that we can take the speed and power of SCRYPT mining machines into a new league”.
The current market leader in the Litecoin mining arena is the Bitmain Antminer L3+ which mines at 504 MH/S and consumes approximately 800W at the wall, selling from the Bitmain website at US$1,291.00. Syan Technologies are confident that their new machine will beat the competition in all these areas, but we shall have to await further details to find out by how much.
Tanaka was tight-lipped about pricing, schedules and release dates, but if the specifications of the forthcoming Vega Home Bitcoin Miner are anything to go by, the planned Litecoin mining machine will be seriously affordable and well worth the wait. Syan Technologies have slated the Bitcoin Miner for delivery in January of 2018 and will be opening their doors to pre-orders around November of this year. It is understood that a large chunk of the first production run has already been snapped up by a large corporate buyer for farm use, but Syan Technologies say that they are already bringing forward the production schedules and attempting to step up batch numbers in order to accommodate anticipated demand. They hope to be following up soon after with the Vega Home Litecoin Miner.
Syan Technologies are a Hong Kong based designer and producer of digital currency mining machines and FinTech, currently focusing on the forthcoming release of their Vega Home Currency Mining series. They comprise a dedicated and highly motivated team of designers, technicians and mathematicians of diverse backgrounds – from as far afield as California, London, Sweden, Russia and Vietnam – with just one thing in common; they aim to design and produce the most cost-efficient and durable ASIC mining machines in the world.
For further information please visit: www.syanmining.com
Company Name: Syan Technologies Limited
Contact Person: Samuel Cornwell
Address:Yen Sheng Centre, 64 Hoi Yuen Rd.
City: Kwun Tong
State: Hong Kong SAR