Chinese Fabless Integrated Circuit Company Nano Labs Stock Skyrockets With New V Series Launch: Details

Nano Labs Ltd NA shares rose on Friday after the company launched its second-generation 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 enhancing power 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, enhanced heat dissipation systems, and better resistance to high temperatures, ensuring more stable and cost-effective operation.

Also Read: Dollar Hits 2-Year High As European Recession Fears Hammer Euro, Pound

Nano Labs, which began crypto mining chip design in 2022, initially launched the B1L product featuring 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 the Listing Qualifications Department of Nasdaq indicating that it has regained compliance with the minimum bid price requirement.

Also, earlier this week, Nano Labs revealed its intention to allocate some excess liquidity to Bitcoin and hold it as a long-term strategic reserve asset.

Price Action: NA shares are trading higher by 52.9% to $6.68 at last check Friday.

Read Next: