Bitmain is interested in the AI

Largest manufacturer of mining hardware is interested in the field of artificial intelligence
26 October 2017   1151

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 Plan to Raise $3B Thru IPO

This reported by Bloomberg refering to "people with knowledge of the matter"
15 August 2018   155

The largest manufacturer of mining equipment Bitmain will submit a listing application to the Hong Kong Stock Exchange in September. The company plans to raise $ 3 billion during the IPO, according to Bloomberg, citing informed sources.

It is noteworthy that Cihan Wu intends to expand the range of the company's activities and bring it to the market of artificial intelligence. It should be noted that many representatives of the crypto-currency community refer to these plans with a share of skepticism.

CoinDesk argue that Bitmain intends to raise $ 18 billion, surpassing the IPO of the Facebook. In this case, the capitalization of the mining giant can range from $ 40 billion to $ 50 billion.

It also became known that the company received serious position on Bitcoin Cash, probably due to the sale of bitcoins. A number of industry experts believe that in the second quarter of 2018 Bitmain suffered huge losses.

It is worth noting that competitors of the giant Canaan Creative and Ebang can also enter the IPO in Hong Kong.