Intel played a huge function in President Biden ’s State of the Union address. He highlighted the business’s strategy to produce semiconductor chips in Ohio, and stated, “Make more cars and semiconductors in America. More infrastructure and innovation in America.” Was he privately authorizing Intel’s strategy to produce ASIC bitcoin miners? Or did he not understand that those semiconductors are an essential part of those makers?
Make no error, semiconductor chips or incorporated circuits are an essential part of practically every technological gadget around you. And Intel is a substantial business with numerous items and numerous customers. Those semiconductors Intel is preparing to produce will go all over. However, there’s no rejecting that ASICs are a huge part of the business’s future strategies.
Recently, NewsBTC priced estimate Intel’s CEO Pat Gelsinger stating:
“Intel is about to bring forward a blockchain chip that’s dramatically better. That is orders of magnitude better in terms of power performance. So, we’re helping solve the climate issue.”
Exaggerations aside, Pat Gelsinger was a huge part of President Biden ‘s State of the Union resolve a few days ago.
What Did President Biden Say About Intel?
One of Biden ‘s big success stories was Intel’s $20B financial investment in Ohio. The plant they prepare to construct will produce semiconductor chips. There’s a worldwide scarcity for those, and more than 170 markets depend upon them. Nowadays, China, South Korea, and Taiwan are the primary manufacturers of incorporated circuits. And those factories are working full-time to satisfy an ever-increasing need.
Enter Ohio. As The Columbus Dispatch put it:
“Intel plans to employ 3,000 workers at an average salary of $135,000. The project is also expected to create 7,000 construction jobs and 10,000 indirect jobs.”
They likewise quote President Biden carrying his inner poet:
“If you travel 20 miles east of Columbus, Ohio, you’ll find 1,000 empty acres of land. It won’t look like much, but if you stop and look closely, you’ll see a ‘field of dreams,’ the ground on which America’s future will be built.”
And then and there, he pointed out Pat Gelsinger by name, as the guy to make it occur. President Biden didn’t point out bitcoin mining, however.
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The U.S.’s Plan To Manufacture Semiconductors
The worldwide chip scarcity provides an apparent chance, and the U.S. wishes to make the most of it. Intel´s play belongs to a larger relocation. In the article “Bitcoin Mining And The Global Semiconductor Shortage Are On A Collision Course,” security professional Shinobi notified us:
“The United States Senate has recently passed the “U.S. Innovation and Competition Act,” which will invest $52 billion dollars on increasing domestic semiconductor fabrication capability, and the “CHIPs for America Act” being presented in the Senate to produce earnings tax credit for semiconductor business.”
So, Intel is going to take advantage of all of that. Plus, they´re going to utilize those semiconductor chips to strongly enter the bitcoin mining organization. A service generally managed by Chinese business Bitmain and MicroBT. Can Intel take on them? According to a current SEC filing NewsBTC reported on, they can:
“When the world first heard about Intel’s ASIC ambitions, the company cleverly described the machines as “ultra-low-voltage energy-efficient.” How effective will they really be? Tom’s hardware responses:
“According to the listing, BMZ2’s performance weighs in at 135 TH/s with 26 J/THs of efficiency. Additionally, the miner is roughly half the cost of a competing Bitmain S19 Pro while being 15% more efficient, rivaling the best hardware on the market from competing companies.”
To much better comprehend the strategy, let’s quote Shinobi as soon as again:
“The dynamics of who can and can’t produce semiconductors in general is already coming to the forefront of politics as nations realize the importance of minimizing reliance on foreign actors to maintain such capacity. It is only a matter of time before how these issues relate to Bitcoin mining starts to come to their attention as well.”
President Biden And Intel Are Not Playing Around
As you can see, both President Biden and Intel have an enthusiastic strategy. Is bitcoin mining a part of the strategy? In Intel’s case, the response is an apparent yes. On the other hand, Joe Biden didn´t even point out the subject in his speech. It was constantly there in the background, however. At least according to us.
Let’s close with another quote from Biden ‘s State of the Union address:
“I have a better plan to fight inflation. Lower your costs, not your wages. Make more cars and semiconductors in America. More infrastructure and innovation in America.”
That’s terrific, however… about that “plan to fight inflation”… what about stopping the widespread cash printing?
Featured Image: President Biden's State of the Union address, screenshot from this video | Charts by TradingView