Nano Labs Ltd (NASDAQ:NA) shares rose Friday after the company launched its second generation of V-Series crypto mining products.
Powered by the advanced Cuckoo 3.0 chips, the V2, V2H and V2X models set new benchmarks for performance and energy efficiency in the crypto mining industry.
The V2H and V2X models deliver nearly four times the computing power of their first-generation counterparts, significantly improving energy efficiency.
This makes the V2 series one of the most efficient mining solutions on the market. In addition to performance improvements, the V2 Series features upgraded hardware, improved heat dissipation systems and better high temperature resistance, ensuring more stable and cost-effective operation.
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Nano Labs, which started designing crypto mining chips in 2022, initially launched the B1L product with the Darkbird 1.0 chip for BTC mining. This was followed by the first generation V1 series, powered by the Cuckoo 2.0 chip for ETH mining.
Recently, on November 18, Nano Labs received a notification letter from Nasdaq’s Listing Qualifications department indicating that the company has regained compliance with the minimum bid price requirement.
Nano Labs also announced earlier this week that it plans to allocate some of its excess liquidity to Bitcoin and hold it as a long-term strategic reserve.
Price promotion: NA shares are trading 52.9% higher at $6.68 at last check on Friday.
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This article Chinese Fabless Integrated Circuit Company Nano Labs Shares Soar With New V Series Launch: Details originally appeared on Benzinga.com
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