Chinese Ethereum mining rig maker Sunlune wraps up its Series A fundraising with “tens of millions” of US dollars from Intel Capital, the investment subsidiary of Intel.
According to Dr. Fuquan Wang, founder and CEO of Sunlune, the funding will be used for chip research and development, to hire more “high-caliber” talents in China and abroad, and boosting the company’s international business expansion.
As per Wang Tianlin, managing director of Intel Capital, Intel and Sunlune will work together on chip design, wafer manufacturing and encryption algorithms.
Fuquan Wang stated, “We appreciate the cooperation with Intel Capital. We are extremely delighted to speed up innovation in the field of high-end chips together with partners with the dream of changing the world.”
After Ethereum concluded its Merge today and stopped supporting crypto mining, mining equipment will no longer function on the platform. On Ethereum forks like the Proof-of-Work and Ethereum Classic forks, only specific mining operations might thrive.
Also Read: Ethereum’s Massive Merge Upgrade Successfully Went Live
Sunlune will continue to be a pioneer in chip stacking technology, adhere to market-oriented operation, combine the superior resources of upstream and downstream industrial chains, etc by utilizing Intel’s technological accumulation and resource advantages in the field of chip manufacturing.
