Bitmain is interested in the AI

Largest manufacturer of mining hardware is interested in the field of artificial intelligence
26 October 2017   1922

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. 

Ex Bitmain Head May Launch OTC Platform

Some experts says China may provide a new startup called Matrix with a monopoly right to trade in digital assets
06 June 2019   130

According to The Block, by the end of July, Jihan Wu intends to launch a startup Matrix, specializing in over-the-counter trading, lending and custodial solutions.

According to Chinese sources familiar with the situation, Bitmain will be the key partner of Matrix. Earlier, the Chinese giant contributed to the development of a startup.

Put it this way, they will be the biggest OTC desk and asset-manager [in the world] overnight. With liquidity like that, [low] prices follow. [Matrix should have a competitive advantage in the region as the Asian market is] a lot more price sensitive.

Source which works closely with investors in Asia

Also Matrix will provide Bitmain custody and landing services.

Due to the ban on trading in cryptocurrencies in China, Matrix is ​​likely to be registered in another jurisdiction. However, some experts do not exclude that the authorities of the People's Republic of China with the aim of dedening the industry may provide a new startup with a monopoly right to trade in digital assets.

Due to disagreements on key issues, Bitmain founders Jihan Wu and Micree Zhan left executive positions, but reserved the right to make important strategic decisions.