In order to handle all of this advanced analog and digital internal circuitry, FiiO gave the M23 a robust 4-stage 20-rail power supply. The system is comprised of independent digital and analog power supplies. The analog supply has separate rails for the DAC, small and large amplification parts, four stages of power processing: OVP, adaptive and LDOO voltage stabilization, high-efficiency voltage boosting, and Pi filtering.
A total of 28 high-capacity polymer tantalum capacitors are used to store large amounts of reserve energy when needed, with the primary analog power supply getting 4 KEMET low ESR high ripple suppression polymer tantalum capacitors, the THX power supply getting 12 KEMET capacitors, the I/V & LPF power supplies getting 6 AVX capacitors, and the DAC receiving 6 KEMET capacitors.
