- STX promises to introduce the most efficient Bitcoin miner.
- STX Corporation will be in charge of the sales and marketing.
- BaysSand will provide ASICs and QRF the Solutions software.
There is a new player in the cryptocurrency hardware market, particularly cryptocurrency mining. STX Corporation has promised to introduce the most efficient Bitcoin miner and aims to dominate the market with its most efficient ASICs.
STX Holding’s First Venture into Cryptosphere
The South Korean Energy giant STX Corporation has today announced a partnership with a world-leading ASIC development company BaySand Inc. The two companies will work together with the Silicon Valley-based technology consortium partners to develop Bitcoin mining Application-Specific Integrated Circuit (ASICs) and systems. The other members of the consortium include Singapore-based QRF Solutions Pte Ltd (“QRF”), which is part of the Blockchain Defense Patent License (BDPL).
This is the first venture by STX holdings into cryptoshpere and the energy trading giant will build its first mining hardware ‘Hanminer” to present the most efficient Bitcoin Mining chips that are made using TSMC 7nm process and they plan to unveil it during the first quarter of 2019. The Bitcoin miners will feature the competent 33J/TH and are likely to rule the most efficient ASICs. The CEO Singapore-based of QRF Good Oh stated:
“We want to make it a reality, a truly efficient miner, emphasizing on efficient use of resources, good build quality, and software security.”
The specialized ASICs chips are integrated into specifically designed motherboards and power supplies in a unit which will be delivered by BaySand, a leading ASIC developer, for use in the cryptocurrency ASIC platform.
The terms of the agreement specify that STX Corporation, which is experienced in the general trading industry for energy, commodities, shipping and logistics and, as a result, it will be in charge of the sales and marketing of the new Hanminer and ensure customers are served securely and efficiently. STX CEO Park Sung-Jun said in a statement:
“We want to tell the world that STX is committed to its partners to be a strong contender in the cryptocurrency market, and we will be partners for cross-border commodity settlements in cryptocurrency.”
BaysSand will provide ASICs solutions using QRF Solutions software, system IP and EMS solutions and the hardware will be sold as individual rigs or customized mining containers through STX Corporation.
The partnership comes during a time when there is a need for cross-border transaction settlements in a fast and decentralized manner. The partnership promises to manage trades with the least third-party involvement and guarantee security and privacy will succeed. BaySand CEO Salah Werfelli commented:
“There is a great opportunity for the best and most efficient Bitcoin ASICs to benefit the blockchain industry as a whole, delivered with the strong ASIC engineering background of BaySand.”