Blockchain

FoundationLogic Unveils Silent Home Miner at Mining Disrupt 2024

on

    More in Blockchain:

    Singapore, Singapore, July 4th, 2024, Chainwire

    The industry-leading brand of DOGE and Litecoin mining machines announced a new product line at the recent Mining Disrupt 2024 conference.

    FoundationLogic, the fabless semiconductor design company behind high-performance ElphaPex Dogecoin (DOGE) + Litecoin (LTC) miners, took center stage at Mining Disrupt 2024 in Miami, Florida, held from 24-26 June. 

    At the event, FoundationLogic unveiled its new product line for silent home miners.

    Like the pro ElphaPex DG 1/DG 1+ models, the new device, dubbed ElphaPex DG Home 1, is powered by the Proof-of-Work (PoW) Scrypt algorithm, offering dual DOGE and LTC rewards. 

    Designed for a new era of home mining, ElphaPex DG Home 1 promises silent, low-maintenance, yet performant DOGE + LTC mining ensured by water-cooling technology. 

    Set to be released in Q4, 2024, the new model boasts a hashrate of 2000M, power of 620W and power efficiency of 0.31JM. Upon launch, ElphaPex DG Home 1 will be available for immediate purchase through the ElphaPex official website. 

    ElphaPex DG Home 1 drew an immediate reaction from crypto mining insiders, with some of the industry’s major influencers sharing photos on social media as soon as the model was showcased. Specifically, they described the new water-cooled miner as “silent, powerful, and efficient”. 

    “This new silent home miner embodies our commitment at ElphaPex to be everyone’s miner partner, regardless of the scale of operations” said Ben Weng, VP of Product at FoundationLogic. “We were pleased by the enthusiastic response we saw at the conference, as many visitors wanted to get one on the spot. Luckily, it won’t be long before everyone can start dual mining DOGE and Litecoin from the comfort of their homes”.

    “ElphaPex products have achieved a remarkable milestone in the DOGE & Litecoin mining chip industry and we’re excited to launch this new product into mass production” said Charles Song, Executive VP at Samsung Foundry. “I believe this is just the beginning of a very bright future for ElphaPex”.

    In addition to launching its newest product, FoundationLogic made a strong impression at the event, drawing attention from industry insiders and influential figures.

    As the main sponsor of Mining Disrupt 2024, the Scrypt mining hardware company hosted the official opening party and operated one of the event’s busiest booths, featuring engaging activities and giveaways.

    Another standout at the conference was FoundationLogic’s keynote presentation.

    During the keynote, the company’s representatives emphasized their commitment to advancing Scrypt mining, highlighting its growing potential for miners. This is particularly significant in light of bitcoin’s recent halving, which has posed challenges across the industry due to reduced rewards. They also pointed out several key advantages of Scrypt hardware over SHA-256 hardware, including better cash flow, ROI, and equipment lifecycle.

    Another highlight of the presentation was the success of the ElphaPex DG 1+, an ASIC miner launched earlier this year at Blockchain Life 2024 in Dubai. As FoundationLogic’s flagship model, it has set a new standard in the market and continues to dominate the Scrypt mining sector with a hashrate of 14000M, power of 3920W and efficiency of 0.28JM.

    Considering recent price trends and the increasing availability of reliable Scrypt mining hardware provided by FoundationLogic, leveraging DOGE’s meme advantage alongside LTC’s solid track record may offer a strategy for mining operations this year.

    About FoundationLogic

    FoundationLogic is a Singapore-based fabless semiconductor design company dedicated to revolutionizing the cryptocurrency mining industry. With a focus on innovation and reliability, FoundationLogic utilizes state-of-the-art ASIC chips designed in-house and subjects its products to rigorous field testing. Through its flagship ElphaPex series, FoundationLogic empowers mining enthusiasts and professionals with cutting-edge, accessible machines, setting new standards for efficiency and performance in the field. For more information, users can visit elphapex.com

    X: https://x.com/ElphaPex

    LinkedIn: https://www.linkedin.com/company/100958166

    Contact

    VP of Product
    Ben Weng
    [email protected]

    PostAd_coinrule_banner728x90

    Leave a Comment

    Your email address will not be published. Required fields are marked *

    *

    Medallion Bank Announces Fintech Strategic Partnership With Kashable

    2024-09-30T10:00:00Z

    SALT LAKE CITY, Sept. 30, 2024 (GLOBE NEWSWIRE) -- Medallion Bank (Nasdaq: MBNKP), an FDIC-insured bank specializing in consumer loans for the purchase of recreational vehicles, boats, and home improvements, as well as loan products and services offered through fintech strategic partners, today announced a strategic partnership with Kashable, a leading fintech company dedicated to providing socially responsible credit and financial wellness solutions. This collaboration builds on Medallion Bank’s existing nationwide financing footprint while expanding Kashable’s services to a broader audience, offering working Americans access to affordable personal loans.

    “Adding Kashable to our growing strategic partnership program expands Medallion Bank’s consumer finance reach while supporting Kashable’s mission to improve the financial well-being of its customers” stated Donald Poulton, President and Chief Executive Officer of Medallion Bank. “Medallion Bank is proud to leverage our expertise in lending and partnerships to help extend Kashable’s services to a broader audience of working Americans.”

    Medallion Bank will originate personal loans on the Kashable platform, enhancing Kashable’s ability to introduce its services to employers, benefit administration platforms, marketplaces, and industry brokers, further solidifying its leadership in the financial wellness industry.

    “Our relationship with Medallion Bank provides Kashable with a strong financial partner that will support us on our journey to expand financial wellness into new communities, employers, and their employees. This partnership enables us to leverage our patented proprietary system and demonstrate an unparalleled ability to look beyond credit scores alone to reward long-term, stable employees,” added Einat Steklov, Co-Founder and Co-CEO of Kashable. “The opportunities this partnership unlocks advance our mission of providing access to affordable credit with the convenience of automated repayments through deep integrations with HRIS and payroll systems.”

    About Medallion Bank

    Medallion Bank specializes in providing consumer loans for the purchase of recreational vehicles, boats, and home improvements, along with loan origination services to fintech strategic partners. The Bank works directly with thousands of dealers, contractors and financial service providers serving their customers throughout the United States. Medallion Bank is a Utah-chartered, FDIC-insured industrial bank headquartered in Salt Lake City and is a wholly owned subsidiary of Medallion Financial Corp. (Nasdaq: MFIN).

    For more information, visit www.medallionbank.com.

    About Kashable, LLC

    Kashable is a financial technology company that provides access to Socially Responsible Credit™ and financial wellness solutions for employees, offered as an employer-sponsored voluntary benefit. By partnering with hundreds of employers, Kashable helps to provide access to financial health and wellness tools to millions of employees.

    Founded in 2013, Kashable deploys innovative technology to improve the financial well-being of working Americans with a commitment to both reliability and affordability. Offering a smart, economical, and fast alternative for employees who may otherwise be driven to borrow from retirement plans, high-rate credit cards, or other high-cost loans to bridge short-term gaps in their finances, Kashable focuses on providing a path to financial security.

    For more information, visit Kashable.com.

    Forward-Looking Statements

    Please note that this press release contains forward-looking statements that involve risks and uncertainties relating to business performance, cash flow, costs, sales, net investment income, earnings, returns and growth. These statements are often, but not always, made through the use of words or phrases such as “remain,” “anticipate” or the negative version of this word or other comparable words or phrases of a future or forward-looking nature, such as “look forward.” These statements may relate to our future earnings, returns, capital levels, sources of funding, growth prospects, asset quality and pursuit and execution of our strategy. Medallion Bank’s actual results may differ significantly from the results discussed in such forward-looking statements. For a description of certain risks to which Medallion Bank is or may be subject, please refer to the factors discussed under the captions “Cautionary Note Regarding Forward-Looking Statements” and “Risk Factors” included in Medallion Bank’s Form 10-K for the year ended December 31, 2023, and in its Quarterly Reports on Form 10-Q, filed with the FDIC. Medallion Bank’s Form 10-K, Form 10-Qs and other FDIC filings are available in the Investor Relations section of Medallion Bank’s website. Medallion Bank’s financial results for any period are not necessarily indicative of Medallion Financial Corp.’s results for the same period.

    Medallion Bank Contact:
    Investor Relations
    212-328-2176
    [email protected]

    Kashable Contact:
    [email protected]


    GlobeNewsWire News

    Recent Comments