Chinese ASIC Manufacturer To Turn To AI In Case Of Stricter Gov’t Regulation

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magic8ball
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Chinese ASIC Manufacturer To Turn To AI In Case Of Stricter Gov’t Regulation

Fri May 18, 2018 8:14 am

Due to the recent crypto crackdown in China, Chinese ASIC chip manufacturer Bitmain is turning to artificial intelligence (AI) as an alternate revenue source, Bloomberg reports today, May 17.

China’s crypto regulations have included an initial coin offering (ICO) ban in the fall of last year, this January’s ban on “exchange-like services,” and the February ban on foreign crypto exchanges.

Bitmain manufactures the processing chips and miners that mine for a variety of cryptocurrencies, including Bitcoin (BTC), Ethereum (ETH), and altcoin Monero; although the release of the Monero-mining Antminer at the end of March led Monero to upgrade in order to preserve its ASIC-resistant nature.

Jihan Wu, Bitmain’s co-chief executive, told Bloomberg in one of his infrequent interviews that because “artificial intelligence requires lots of computations,” it is the natural alternative option for the ASIC manufacturer


https://cointelegraph.com/news/chinese- ... regulation

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