Despite the shortage of chip, companies moving into the Bitcoin mining product business

Recent activities by the chip industry companies showed that they are showing huge interest in blockchain and the crypto industry. 

The Crypto industry completed its life around more than 10+ years, as Bitcoin completed its 13 years in this internet world. This industry is still in the very initial phase and people believe that many things have so far to enter this industry. And further, it will take a long long time to evolve. Countries, Banks, and other financial institutions are slowly moving in crypto to take advantage of this technology.

Many tech companies are also not lagging to do business and grab attention with the name and fame of this industry. In the past, we saw Elon Musk’s Tesla and SpaceX which showed a big link in Bitcoin and Dogecoin-like assets. And also former Twitter CEO owned Block is working on an efficient Bitcoin mining Product and Decentralized Bitcoin mining network.

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Recently the biggest chip manufacturer company Intel also officially confirmed that it will produce a Bitcoin ASIC miner. Reportedly, Intel aimed to provide low-cost Bitcoin ASIC mining machines.

It sounds very strange in this situation, because how Intel can enter into the crypto mining equipment production business because already huge chip shortages are delaying shipment of products in Car, Gaming, and other industries.

Few experts see this step of Intel company from the perspective of the China crypto ban. As we know, the Chinese government banned crypto from every point of view, so that citizens of China don’t remain linked with crypto in any way, so the production of crypto mining equipment is also hard to see. And also many Chinese websites stopped selling crypto mining rigs. So here Intel will try to take over in this industry.

Earlier in September 2021, another chip producer company, AMD company, said that they will not give priority to their businesses toward crypto because they are not able to fulfil the demand of non-crypto needs, which are more necessary.

Read also: Zimbabwean government to collect tax from British crypto services