WiiBox and Gridseed Merge

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Courtesy of UBM China

Courtesy of UBM China

A new cryptocurrency mining company has been born as the result of the merger of Gridseed and WiiBox.

Sfards is a new Chinese cryptocurrency mining company funded by Li Xiao Lai one of the largest holders of bitcoin in China and Matrix Partners China (investors in Tap4Fun and others) making it China’s first venture-backed cryptocurrency mining company by Matrix Partners China.

Li Xiao Lai is well-known to many in Asia in the cryptocurrency world as the man behind Bitfoo and as a lifetime member of the Bitcoin Foundation.

The new company Sfards hopes to harness the power of the respective talents of each company. The WiiBox team to bring more capabilities to the WiiBox mining hardware control system and the Gridseed team focusing on new semiconductors.

The new company is also working to bring a new cloud mining solution to the masses along with an update to the WiiBox platform allowing users to rent out hashing power to users.

Courtesy of Sfards

Courtesy of Sfards

Courtesy of Gridseed

Courtesy of Gridseed

Gridseed is known among many circles for bringing the Gridseed ASIC to market that allowed miners to dual mine both Scrypt and SHA256. The company would later go on to the Gridseed Blade which was a Scrypt miner packed with even more power.

WiiBox provides a hardware and software controller that can control the Gridseed devices.

Courtesy of WiiBox

Courtesy of WiiBox

The hardware came packed with a piece of software that made mining with Gridseed devices much easier providing software that allowed for pool switching, overlock settings, statistics and more.

While details about the investment amount  made by Li Xiao Lai nor Matrix Partners China have been made public the Bejing based company is gearing up for further developments in the cryptocurrency mining world.

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Coin Fire is a cryptocurrency news site started on June 6th of 2014. The site focused on hard-hitting investigative stories. Coin Fire was acquired by 99Bitcoins on October 2015.

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