John Yang, President of Cypher Power Inc., had less than six minutes on stage at Mining Disrupt Miami 2024, held June 24–26, 2024. He used them to explain why a company headquartered in Boston put its repair shop in Nashville, Tennessee, and what that shop does for miners.
He opened with the hardware news of the moment: Bitmain had just released a new, more efficient miner, and he called it the start of a new era for operators replacing older fleets. The efficiency figure in the captions is garbled, so it is not repeated here.
From gaming hardware to ASIC repair
Yang described the company's path in a few lines. It started in New Hampshire in 2013 as an IT and gaming hardware business, mined with GPUs from 2017 to 2021, and moved to ASIC mining in 2021.
And right now we are the official Bitmain repair center in Nashville, Tennessee.
John Yang · 1:07
The facility, he said, is a 7,000 square foot repair shop and warehouse. The team works from both cities: Boston is the headquarters, and Nashville is the repair center.
Why Tennessee
His case for the location was a map. He said about 80% of the U.S. population lives east of the Rocky Mountains, and that Tennessee sits near the middle of it. On the mining side he pointed to Texas, which he put at about 14% of the U.S. mining map, and to Georgia, Kentucky and New York.
All of those mining farms, the big mining farms, they are within like 10 hours, from our repair center in Nashville, Tennessee.
John Yang · 1:48
The pitch to operators was plain: a shorter trip to the repair bench saves money and time. He also invited the audience to visit the shop the following month, when the Bitcoin 2024 conference was held in Nashville.
Repairs, used machines and new stock
Repair is one line of a wider business. Yang said Cypher Power repairs a range of miner models, buys and sells used machines, and imports new ones from Hong Kong. It also helps buyers export miners to Africa, South Asia and South America, and inspects and repairs the machines it sells before they ship.
If you have a used miners you want to get rid of, you know, come to us.
John Yang · 3:30
He leaned on the official repair status as the reason to trust the company, and said trust matters in this business. Yang leaned on the official repair status as the reason to trust the company, and he said trust matters in this business. He also mentioned Bitmain's L9, released the week before, which he called the best Dogecoin miner so far and hard to get, and said Cypher Power could help buyers find one.
A GPU line on the side
He closed with a joke about the photo on his slide, an AI generated picture he said did not look like him, and then a second product line: Cypher Power also distributes GPUs and works with manufacturers.
So, if you want to buy H100 or other GPUs, you can also come to me.
John Yang · 4:47
Bitcoin traded at $61,272 on June 24, 2024, the day the event opened. It is $79,657 today. The claims above are the company's own, made in a sales talk, and were not checked against Bitmain.