Mining Giant Bitmain Expands into Powering AI Development with AICHAIN (AIT) Partnership
Chinese cryptocurrency mining giant, Bitmain has declared its ambition to expand into the Artificial Intelligence (AI) market by forming a partnership with AICHAIN (AIT).
This means that Bitmain will not only be producing cryptocurrency mining hardware but also Artificial Intelligence-related modules.
AICHAIN is dubbed as China’s largest AI project that utilizes blockchain technology. The company announced in January of this year that Bitmain had provided first-round seed funding which was seen by many as the arrival of the era to finally combine AI with the blockchain.
With an aim to build AI ecology on its own blockchain and further provide technical support to all participants in the network, the hope is that this partnership will spur on advances in the development of Artificial Intelligence as a whole.
AICHAIN will focus on researching big data management and AI-driven productivity solutions to construct an intelligent digital world, while Bitmain is set to release a new generation of AI chips first released in November 2017 in support of this vision.
Bitmain was established in 2013 and has since been a major player in the field of Bitcoin mining. Bitmain is believed to supply 80-90% of the world’s mining machine chips which they have iterated over a dozen generations.
The cooperative agreement between Bitmain and AICHAIN is pegged to provide artificial intelligence solutions to an amalgamation of technology sectors known as ABCR: AI, Big Data, Cloud & Robot.
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