Syan Technologies in talks with LAOS PDR government to deploy hydroelectric-powered cryptocurrency mining facility

Syan Technologies of Hong Kong have been in discussion with the government of Laos PDR regarding the possibility of a partnership to deploy a hydroelectric-powered cryptocurrency mining facility on the Mekong River, close to one of their hydroelectric power plants.

Laos PDR has a number of hydroelectric power plants, and is keen to capitalise on this source of cheap, environmentally friendly energy in order to offset their own significant development and running costs. Syan Technologies – FinTech subsidiary of the multi-national investment and finance conglomerate the Zahrani Group – believe they have reached a preliminary agreement to supply the required mining hardware for the first crypto-currency mining facility to be launched in conjunction with the Laotian government, who will be providing the basic infrastructure and electricity. Though the exact location of the farm is as yet undecided, sites close to the Nam Ngiep 2 hydropower station have been suggested and will be surveyed for suitability. 

Syan Technologies are just about to launch the first machine in their Vega series of currency miners, the Vega Home Bitcoin Miner, incorporating their new 14nm ASIC STA1220 chip and delivering 13.5TH/S and an efficiency ratio of 0.078 J/GHs, a good 20% better than its nearest competitor, the Bitmain Antminer S9. The retail price for the new machine has been set at US$1,895.00. With batch 1 consisting of only 1700 machines of which the first 500 have already been reserved, Syan intends to ensure that the remaining 1200 miners in batch 1 will be sold to small independent miners as opposed to big corporates; with this in mind they have limited the individual order size to a maximum of just 5 machines per customer and these will be sold on a first-come first-served basis once the order books are opened. There is also a SCRYPT miner in the pipeline though no performance, release date or price details are available as yet.

“We are delighted the way talks have gone, the agreement to proceed is in place and the details are being discussed,” said a spokesperson from Syan earlier today. “There are many potential problems to overcome, technological, economic and political, but Syan Technologies wants this to succeed and the Laotian government wants this to succeed so the will is definitely there. They have a practically limitless source of cheap, clean, sustainable energy and we have the expertise and equipment to turn that power into revenue. We are all very excited to be involved in such a huge project; the Laotian hydroelectric projects are an amazing feat of engineering, and absolutely perfect for a currency mining venture.”

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.

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