Nano Labs rebrands subsidiary to Nano bit, expands into Bitcoin ecosystem
The strategic rebranding of Hangzhou-based Nano Labs signifies a dedication to blockchain improvement and worldwide market progress.
In the present day, Nano Labs Ltd., a distinguished fabless built-in circuit design agency and provider of product options in China, introduced that Tsuki HK Restricted, its fully-owned subsidiary, has been formally renamed to Nano bit HK Restricted. With this rebranding, Nano bit is reentering the Bitcoin ecosystem and intends to create initiatives and companies centered round Bitcoin (BTC).
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Nano Labs’ dedication to selling blockchain infrastructure innovation is demonstrated by Nano bit HK Restricted’s deliberate concentrate on BTC ecosystem improvement.
Whereas it stays unclear whether or not Nano Labs plans to carry BTC on its stability sheet, the chip designer emphasised that accepting the cryptocurrency “aligns with its long-term imaginative and prescient.”
In pre-market buying and selling, Nano Labs’ shares are priced at $9.07, marking a rise of 17.03% on the time of writing. It stays to be seen whether or not the rebranding information could have a continued impression on Nano Labs Ltd’s inventory value when the market opens at the moment.
Nano Labs LTD 1D chart | Supply: Google Finance
Based in 2019 by Kong Jianping and Solar Qifeng, Nano Labs is a fabless IC design and product answer supplier based mostly in China, specializing in modern chip architectures, storage methods, and distributed computing. The agency went public in July 2022, initially aiming to boost $50 million in its U.S. IPO however in the end securing $20 million.
Nano Labs stays a frontrunner in high-throughput and high-performance computing options, with its flagship Cuckoo sequence chips—such because the Cuckoo 1.0, Cuckoo 2.0, and Darkbird 1.0—rating among the many first near-memory high-throughput computing processors available on the market.
The institution of Nano bit HK Restricted furthers Nano Labs’ aim of selling technological improvement whereas leveraging the growing significance of blockchain and cryptocurrency in worldwide marketplaces. The corporate hopes to extend its affect on the worldwide scene and solidify its place as a pioneer in blockchain infrastructure with this venture.
Contemplating Nano Labs’ proficiency in high-performance computing, this know-how may enormously enhance BTC mining processes. The corporate’s Cuckoo sequence chips, as an example, is used to boost energy effectivity and hash charge efficiency, two essential points of mining operations.
Energy consumption and efficiency optimization are persistent points for crypto mining gear producers like Bitmain and MicroBT.
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