(MENAFNEditorial) Syan Technologies of Hong Kong have struck a deal with the government of Laos PDR to begin preparations regarding the deployment of a hydroelectric-powered cryptocurrency mining facility on the Mekong River, close to the border with neighbouring Thailand. Discussions have been underway now for a number of months but it is understood that the agreement to proceed is finally in place and a location close to the Nam Ngiep 2 Hydropower Station has been earmarked. The Syan Mining Project - as it is now known - is to be partially funded by the Laos PDR government by way of the provision of the necessary infrastructure and the supply of utilities, including an almost limitless real-time supply of electricity from the nearby hydroelectric power plant. The facility will be equipped and staffed by Syan Technologies in conjunction with their parent company, the multi-national investment and finance conglomerate the Zahrani Group.
The Syan Mining Project has been made possible by the motivation of the Laotian government to capitalise on its source of cheap, environmentally friendly, renewable energy in order to offset the significant development and running costs of their numerous hydroelectric power plants. Syan Technologies are also keen to capitalise on the deal, having incurred considerable research and development costs in relation to the proprietary 14nm ASIC STA1220 chip incorporated in their forthcoming Vega series of currency miners. The Syan Mining Project is expected to utilise a stripped down, rack-mountable version of the Vega Home Bitcoin Miner, with each rack of ten to fifteen units having centralised PSU and cooling systems to maintain optimum temperature and efficiency levels.
The facility itself will be housed in a large industrial unit close to the power generation plant, previously occupied by the manufacture and assembly of electrical generators and rotor systems used within the power-plants themselves. Syan Technologies have already moved into the site and their technicians are preparing the way for the new mining operation. The mining machines are expected to be delivered in late December and Syan hope to have the project up and running early in the new year. There has been no announcement regarding the total real hashing power of the Syan Mining Project; a spokesman at Syan's offices in Hong Kong, when asked to give us an idea what is to be expected once the farm is working to capacity said 'We don't have precise figures as yet; all I can tell you is that if our estimates are anything to go by it's going to be awesome, truly awesome. After months of talking about this project we're making real progress at last. We can't wait to get up an running.
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 go to www.syanmining.com
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Company Name: Syan Technologies Limited
Contact Person: Samuel Cornwell
Email:
Phone: +852-2861-8794
Address:Yen Sheng Centre, 64 Hoi Yuen Rd.
City: Kwun Tong
State: Hong Kong SAR
Country: HongKong
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