The largest producer of miners will switch to AI

The largest manufacturer of ASIC-miners for bitcoin and many other cryptocurrencies, the Chinese company Bitmain Technologies, is seriously considering the AI ​​market as an alternative source of revenue.

Bitmain is exploring the possibility of releasing devices for the artificial intelligence industry, fearing further strengthening of control over the scope of cryptocurrency in China. Last fall, Chinese regulators imposed a ban on the trade in cryptocurrencies and the conduct of ICO, and earlier this year took a number of measures aimed at expanding previous restrictions.

The head of Bitmain Jihan Wu told Bloomberg in one of his interviews that “artificial intelligence requires large amounts of computation”, so this area is a natural alternative for the manufacturer of specialized computing equipment. “As a Chinese company, we must be ready,” he said.

The top manager declined to comment on the profits of Bitmain Technologies, however, according to the publication, in 2017 this figure was $ 3.5 billion. However, the head of the company does not rule out that following the ban on holding ICO and the work of crypto exchanges of Chinese authorities May limit the work of the mining companies. This, in turn, will lead to a serious blow to Bitmain, which supplies the miners with the necessary equipment and chips.

According to Bitmain, in five years, the sales of artificial intelligence chips can amount to 40% of the operating profit of Bitmain Technologies. In October, Bitmain introduced the Sophon BM1680 chip. It is able to perform calculations for the needs of the AI ​​at lower costs than, for example, devices from Nvidia and AMD, but does not differ in performance.

A report published in late February showed that Bitmain, founded 4 years ago, in 2017 earned from $ 3 billion to $ 4 billion, thus outstripping Nvidia, a company with a 27-year history.

Plans to win a share in the market of artificial intelligence are also nurtured by the Chinese company Canaan Creative, the first manufacturer of ASIC-miners Avalon. Earlier this month, it was reported that the company’s initial public offering (IPO), during which it intends to raise $ 1 billion, could be held on the Hong Kong Stock Exchange. Source:

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