NASDAQ OMX

FoxMiners has Crossed the $20 Million Mark in Pre-Order for its F24 and F48 Miners

2.5.2017 11:00 | NASDAQ OMX

Dela

LOS GATOS, Calif., May 02, 2017 (GLOBE NEWSWIRE) -- FoxMiners ( www.FoxMiners.com ) has achieved a critical milestone in reshaping how mining of cryptocurrency is done. The mining rig manufacturer has now crossed $20 million worth of pre-orders from customers around the world interested in its new dual core F24 and F48 miners.

An accompanying photo is available at 
http://www.globenewswire.com/NewsRoom/AttachmentNg/d73aae78-5d58-4d49-b566-deebc2336329

Until May 14th, customers can save $500 from each unit they pre-order. Pricing starts at $2500 and FoxMiners takes care of shipping and custom costs.

Dual power and less energy cost

With their dual core capabilities, F24 and F48 are the world's fastest miners. They have a capacity of 75TH/s of mining power at 1500W. That is the highest power at the lowest possible electricity consumption ever achieved by a mining chip.

Aside from having double the processing power, the chips are endothermic-they absorb energy heat from the surrounding rather than give it off. As a result, they release less heat than most of those currently in the market, and that is what makes them so efficient in energy consumption.

FoxMiners has designed the chips with SHA-256 and Scrypt algorithms. Therefore they can mine both Bitcoin and Litecoin. In future, the company plans to design chips for x11 as well.

Saving the spirit of decentralization

The FoxMiners mining gear comes to the market at the time when the mining difficulty for major cryptocurrencies is threatening their decentralized architecture. With growth in difficulty, the cost of electricity mining consumes goes up.

This makes it hard for those with little capital to take part in securing the cryptocurrency networks. As a result, only major corporations and mining pools, which have the economy of scale to overcome the electricity cost, are left mining. Unfortunately, this goes against the central pillar of cryptocurrencies, which is decentralization.

With chips that consume almost twice less electricity and do double the work, FoxMiners is making it possible for small players to join mining again and secure cryptocurrencies. It is upholding the spirit of decentralization, which the communities around bitcoin and other cryptocurrencies hold dear.

About FoxMiners
FoxMiners brings together some of the best minds in blockchain hardware design and development. The company is registered in California and headquartered in Los Gatos, CA.  For more information see www.foxminers.com.

Karen Meron
(818) 422-4007
karen@ndawnm.com




This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Foxminers via Globenewswire

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