Bitmain is interested in the AI

Largest manufacturer of mining hardware is interested in the field of artificial intelligence
26 October 2017   1558

The Chinese company Bitmain Technologies has announced the creation of the first products to accelerate artificial intelligence applications (AI), reports Forex Magnates.

The company based in Beijing is primarily known as one of the leading manufacturers of cryptocurrency minning hardware, but intends to diversify the business. The AI initiative is implemented in the Bitmaintech Israel engineering and technology center.

We are very proud to be part of the effort to develop software for an artificial intelligence product called Sophon. Our AI researchers focused on creating a computer version and NLP-solutions optimized for the Sophon platform.

Gadi Glikberg
Head, Bitmaintech Israel

According to him, the usecases of new products can be the most diverse and include the recognition of speech and images, the technology of autonomous vehicles, the improvement of surveillance systems, robotics, Internet of things (IoT) and much more.

Bitmain saw in the AI-business trends similar to those that were characteristic for the initial stage of the existence of bitcoin, and towards the end of 2015 we decided to start research in the field of artificial intelligence. Now, only a year and a half later, we are already massively releasing chips.

Mikri Zhang

CEO of Bitmain.

According to the developers, the new products, called BM1680 and SC1, are fully compatible with popular AI-platforms, including Caffe, Darknet, Googlenet, VGG, Resnet, Yolo, Yoto2 and other models. 

Bitmain to Close Another Office

Bitmain is building "long-term, sustainable and scalable business" is their own way
14 January 2019   142

The Chinese mining company Bitmain has announced that it will close another of its overseas divisions - this time in Amsterdam.

A spokesman for the company in a conversation with CoinDesk confirmed that the office is still working, but the decision on its future fate has already been made.

According to LinkedIn, at least nine people are employees of Bitmain in the capital of the Netherlands and are working on its flagship mining pool, while the company did not outline the scope of the process.

As we build a long-term, sustainable and scalable business, we are making adjustments to our staff and operations. This includes the decision to close our Amsterdam and Israel offices. We are really focusing on things that are core to our mission and not things that are auxiliary. We will continue to hire the best talent from a diverse range of backgrounds. 

Bitmain Team

It became known in December about the closure of the Israeli unit of Bitmain, with more than 20 employees, . As a reason for this decision, the company cited a decline in the cryptocurrency market in 2018.

Another fact is that it was planned to invest $500M and hire 400 employees for US office.