Chinese ASIC chip manufacturer Bitmain is thinking of options. After the recent cryptocurrency ban in the country, Bitmain has to look for options to get additional revenues, and this option may be Artificial Intelligence.
Background information: Chinese government banned cryptocurrency and ICOs, after that, ban on exchange-like services followed, and, finally, ban on foreign cryptocurrency exchanges completed the present stage of the ban process.
Bitmain has produced chips for miners, who were mining different cryptocurrencies, so, as you might imagine, the company was quite confident in the future. However, the recent bans forced the company management to look for options. As a company in China, we have to be prepared – this is the motto of Bitmain now. For now, the company is going to sell chips to be used for AI development. Their chips can compete with the world leading chip providers, such as Nvidia and Advanced Micro Devices, hence, they can bring good revenues, at least, till the situation with the cryptocurrencies doesn’t stabilize.