Bitmain, a bitcoin mining hardware firm said it has expanded its production line to the United States in order to improve supply chain efficiency as trade tensions continue to escalate between China and the US. China-based Bitmain said in a Dec. 9 X post, “This strategic move aims to provide faster response times and more efficient services to the North American customers.”
Bitmain, a manufacturer of cryptocurrency mining equipment, is renowned for creating application-specific integrated circuit (ASIC) chips and is estimated to control up to 90% of the Bitcoin mining market.
Bitmain announced that the initial shipment of Antminer S21 Pro miners will be released later this month, offering a 'significant boost' to its industry partners.
Vancouver mayor proposes Bitcoin adoption to fight inflation
Ken Sim, the Mayor of Vancouver, Canada, is encouraging the city council to consider incorporating Bitcoin into the city's financial plans, highlighting the cryptocurrency's potential to enhance financial stability in the face of fluctuating fiat markets.
For a council meeting on December 11, Sim prepared to present a motion titled 'Preserving the City’s Purchasing Power Through Diversification of Financial Reserves – Becoming A Bitcoin Friendly City.' He claimed that Bitcoin, with its 16-year history, has established a 'solid reputation' and could act as a buffer against inflation and currency devaluation.
This initiative is consistent with Sim’s past support for cryptocurrency adoption. In 2022, he accepted crypto donations during his mayoral campaign, indicating his willingness to use digital assets for public advantage.
Google unveils new quantum computing chip: Clock ticking for crypto encryption?
Google's Quantum AI team claims its new quantum computing chip can solve a computational problem in under five minutes, a task that would take one of the top supercomputers approximately 10 septillion years to complete.
The chip, named Willow, can exponentially correct errors and handle specific computations at an astonishing speed, according to Hartmut Neven, Google's Quantum AI lead, in a Dec. 9 blog post. ''This staggering number surpasses known timescales in physics and far exceeds the age of the universe,'' he stated.
'It supports the idea that quantum computation happens in multiple parallel universes, consistent with the theory that we live in a multiverse, a prediction first made by David Deutsch,' Neven added.
