Reference is made to the stock exchange announcements on 15.02.2022. On
Wednesday the 8th of June 2022 from 18:00 CET, Lokotech AS, a wholly owned
subsidiary of Harmonychain AS, had an update meeting with our Application
Specific Integrated Circuit ('ASIC') - designers.
New simulations for the production ready ASIC was presented and is reiterated
here. The simulated performance and power consumption for the ASIC is better
than communicated per 15.02.2022, and is estimated to be 15.6 MH/s per 1.04
Watts. This corresponds to 0.067 Joules per Megahash (0.067 J/MH, or more than
15 MH per Joule). This design is substantially more effective than any other
known Scrypt ASIC miner on the market today. This means that our potential
customers can run significantly more miners using the same amount of power.
The MPW is used to test functionality and performance of underlining aspects of
the production ready ASIC design. The area of the MPW ASIC is smaller than the
anticipated production ready chip, but will allow for the required testing of
the physical circuitry, and is an important step in delivering a quality product
to the end user. In a mass production ASIC, the relative ratio between
computational logic and supportive circuits may be greater than the MPW ASIC.
Regardless, the MPW is poised to prove the functionality and setting a new
standard in energy-efficiency in our niché market.
At this date, the designers have a high degree of confidence that this ASIC will
work as expected. The extra time that was granted to the design team, moving
from a March MPW to a July MPW has been well utilized so far. This has given
them an ample amount of time for verification pre-silicon by running randomized
tests on each individual tile that together makes up the design, and at an
extended duration. The designers have one sub-supplier that is delayed, but they
expect them to deliver within the required time frame.
The company continues to evaluate various go-to-market strategies in dialogue
with possible industrial partners. Some of these paths could include selling
packaged ASICs to Original Equipment Manufacturers (OEM) or Original Design
Manufacturers (ODM), offering a GPU-style/PCIE hashblade to fit in home PCs, the
previously communicated full ASIC miner, or over time selling manufactured
wafers, and/or partnering up with the intent to use the asics ourselves.
Testing and continued optimization of the ASIC design will continue throughout
the duration of the MPW run.
"Despite the unfortunate delay, the design team has performed outstanding and
weŽre now moving to the next stage of development. We are excited to show our
investors and potential clients what we have been working on for so long.
Currently we are on track to show silicon by the end of the year with ambitions
to start converting interested parties into binding orders once we have a
tangible ASIC in hand" comments CFO Benjamin Miklozek.
This information is subject of the disclosure requirements acc. To section 5-12
of the Securities Trading Act.
This information constitutes inside information and is subject of the obligation
to provide information in according to the Market Abuse Regulation (MAR). The
message is published on behalf of Harmonychain AS by Ola Stene-Johansen, CEO, at
20.20, 8 Juni 2022.