Bitmain the ASIC Mining Giant is interested in building an AI-based chip for Bitcoin [BTC] Mining!

After a huge success in the cryptocurrency mining space, Bitmain, the evasive Chinese firm that sells around 80 percent of the planet’s mining ASICs is currently contemplating getting into the ever-challenging AI game.

Bitmain’s co-chief executive, Jihan Wu, stated that the business feels “fortunate” due to its enormous earnings from ASIC earnings. The mining rig maker wants to expand in different directions. This would not be the very first time Bitmain’s made a foray to the AI marketplace. It was similar to a GPU for profound learning instead of graphics manufacturing and processing.

Presently, Google has found in the area of AI using its Tensor Processing Unit, a profound learning ASIC that may process an amazing amount of image data and comprehend words inside of these. Then again, the TPU is provided only to clients of Google’s cloud solutions, which can be blocked in China. Here, Bitmain includes a substantial benefit and tons of space to develop into a global rival.

Bitmain’s standing for chipmaking comes due to a conclusion that Wu created when he had been mulling the organization’s business model. He was also considering making it a cryptocurrency market, but backed out of this when realizing it had been too much legal threat considering China’s regulatory environment and possible government actions elsewhere.

The decision to focus more on AI could have caused the extreme quantity of strain against Bitmain’s ASIC company from nearly any cryptocurrency with the exclusion of Bitcoin.

Considering that the ASIC giant has expertise in focusing chips for these sorts of programs, Bitmain just might have exactly what it takes to earn an important effect in AI technologies, getting among the many companies driving the restricted but highly promising distance.

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Author: Crypto Crimson Staff
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