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Sapphire Tech Targets Grin Cryptocurrency With New GPU Miner
Sapphire Technology is launching a line of graphics cards designed for mining of the new "grin" cryptocurrency, as well as other tokens.
Hong Kong graphics card producer Sapphire Technology is launching a new line of miners targeting the privacy-focused "grin" cryptocurrency.
Sapphire announced the launch of its RX 570 16GB HDMI Blockchain Graphics Card on Tuesday, saying it would be "the first of a new family" of products designed to mine grin and other cryptocurrencies. The product is not yet on sale, but will be available to order "soon."
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According to the firm, the new product is "one of the few solutions" designed for the Cuckatoo 31+ proof-of-work algorithm underpinning the network and, as such, claims it would lead "to higher rewards for early miners."
Sapphire's global VP of marketing, Adrian Thompson, said the company was "thrilled" to launch new blockchain products, referencing both the RX 570 and potential future products.
"The launch of the RX 570 16GB HDMI Card presents an exciting opportunity not just for SAPPHIRE but for early Grin Coin miners and the cryptocurrency market as a whole," he continued. "Future products will include new 16GB Graphics additions’ to SAPPHIRE’s line of INCA and MGI Series of dedicated blockchain systems."
Grin
, based on the mimblewimble privacy technology, went live last week after two years of development. The cryptocurrency has seen major interest from cypherpunks and investment firms alike, ostensibly due to its similarity to bitcoin while remaining GPU miner compatible.
It is the second of two cryptocurrencies launched on mimblewimble, with its counterpart, beam, going live earlier this month.
Generic graphics cards image via Shutterstock; product image and specs via Sapphire Technology
Nikhilesh De
Nikhilesh De is CoinDesk's managing editor for global policy and regulation, covering regulators, lawmakers and institutions. He owns < $50 in BTC and < $20 in ETH. He won a Gerald Loeb award in the beat reporting category as part of CoinDesk's blockbuster FTX coverage in 2023, and was named the Association of Cryptocurrency Journalists and Researchers' Journalist of the Year in 2020.
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