Intel Capital Leads Mining Rig Maker Sunlune’s Series A Funding

Intel Capital Leads Mining Rig Maker Sunlune’s Series A Funding

Chinese Ethereum mining rig maker Sunlune wraps up its Series A fundraising with “tens of millions” of US {dollars} from Intel Capital, the funding subsidiary of Intel.

According to Dr. Fuquan Wang, founder and CEO of Sunlune, the funding will probably be used for chip analysis and improvement, to rent extra “high-caliber” abilities in China and overseas, and boosting the corporate’s worldwide enterprise growth.

As per Wang Tianlin, managing director of Intel Capital, Intel and Sunlune will work collectively on chip design, wafer manufacturing and encryption algorithms.

Fuquan Wang acknowledged, “We appreciate the cooperation with Intel Capital. We are extremely delighted to speed up innovation in the field of high-end chips together with partners with the dream of changing the world.”

After Ethereum concluded its Merge at the moment and stopped supporting crypto mining, mining tools will now not perform on the platform. On Ethereum forks just like the Proof-of-Work and Ethereum Classic forks, solely particular mining operations would possibly thrive.

Sunlune will proceed to be a pioneer in chip stacking know-how, adhere to market-oriented operation, mix the superior sources of upstream and downstream industrial chains, and so on by using Intel’s technological accumulation and useful resource benefits within the discipline of chip manufacturing.

Compiled by Coinbold

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