On December 13, it was announced that Bitmain and the China Mobile are collaborating. The two giants of their respective industries signed a Memorandum of Understanding (MoU) for their collaboration. Bitmain is the most prominent Bitcoin (BTC) miner and is extremely efficient in its work and process. Along with mining Bitcoin, it mines the Bitcoin forks like Bitcoin Satoshi Vision (BSV) and Bitcoin Cash (BCH). Bitmain aims to set foot in different fields and get involved in prolific domains like the Artificial Intelligence (AI).
These both companies intend to form a self-sufficient and strong project and both the parties are using their resources equally to make the project thrive and take shape. With Artificial Intelligence at their aid, they can develop intelligent networks and software.
The China Mobile company previously manufactured application-specific integrated circuit (ASIC) chips which is an affordable product that aimed for advanced machine learning. The company along with being a manufacturer is also a crypto miner. With the decline in the market rates in crypto space, the China Mobile company is being proactive with taking a new route, and trying-out new domain with Bitmain as the Chinese government plans to ban cryptocurrency mining soon.
This is going to help widen their reach in the industry in need of the hour. Just like many cryptocurrencies like Ethereum (ETH), Bitcoin (BTC) and Ripple (XRP) are being heavily affected by the declining market rates of crypto market Bitmain is being damaged just the same. It had to forgo its branch in Israel and had to let off almost twenty-three workers that were hired in that branch. This branch did most of the main mining process.