HONG KONG, December 28, 2023 /EINPresswire.com/ -- Shao Bank, a pioneering fintech institution, has announced the issuance of a diverse series of bonds on December 7. The bonds, with denominations ranging from 40 HKD to 40,000 HKD, are a strategic move to fund Global Future Technology and Culture, a company at the forefront of developing new chips for cryptocurrency mining.
Yang Shao, the founder of Shao Bank, recently revealed that more than 60 million USD of the targeted 100 million USD has already been raised, indicating a strong investor response. Originally, the bond sale was scheduled to conclude on February 7, but given the accelerated pace of funding, the bank may close the sale earlier than planned.
Global Future Technology and Culture is actively preparing for this ambitious venture, attracting new engineers from major Chinese companies to join the development of these advanced chips. The technological leap from 55 nm to 28 nm chip designs was a significant breakthrough, evidenced by the efficient and popular BW-L21, which operates on 28 nm chips. The subsequent 20-nm ASIC chips, like Uranus v1 Miner and SMART Miner 2.0 SE, demonstrated impressive performance.
However, technological progress continues unabated. Today's ASIC chips, featuring 16-nm and 14-nm designs, offer even higher returns on investment. These chips are distinguished by greater hash rates and lower power consumption, as seen in products like A4 Dominator and Antminer S9. The evolution is ongoing, with expectations that Global Future Technology and Culture will soon produce 7-nanometer chips, potentially ensuring China's leadership in the global market for bitcoin mining chip production.
This initiative by Shao Bank and Global Future Technology and Culture represents a significant leap forward in cryptocurrency mining technology, promising more efficient and profitable solutions to the global market.
About Shao Bank
Shao Bank is a leading fintech company known for its innovative approach. It offers customers a wide range of banking services, including private and business banking, asset management, lending, investment, remote banking and financial marketplace.
About Global Future Technology and Culture
Global Future Technology and CultureA technology company, part of the Global Future Enterprise Group Corporation. A class A (highest level) enterprise. Its commitment to innovation and excellence is driving significant advancements in the field.
Wai Lui
Shao Bank
+852 3960 6571
customerservice@shaobank.com
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Shao Bank invests in innovative chip plant - Presentation Global Future Technology
