{"id":485100,"date":"2022-03-03T19:27:23","date_gmt":"2022-03-03T19:27:23","guid":{"rendered":"https:\/\/wncen.com\/?p=485100"},"modified":"2024-06-11T14:17:58","modified_gmt":"2024-06-11T14:17:58","slug":"biden-loves-intels-plan-to-produce-semiconductors-what-about-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/biden-loves-intels-plan-to-produce-semiconductors-what-about-bitcoin-mining\/","title":{"rendered":"Biden Loves Intel\u2019s Plan To Produce Semiconductors. What About Bitcoin Mining?"},"content":{"rendered":"

Intel played a big role in President Biden \u2019s State of the Union address. He highlighted the company\u2019s plan to manufacture semiconductor chips in Ohio, and said, \u201cMake more cars and semiconductors in America. More infrastructure and innovation in America.” Was he secretly approving <\/span>Intel\u2019s plan to produce ASIC<\/span><\/a> bitcoin miners? Or did he not know that those semiconductors are an integral part of those machines?<\/span><\/p>\n

Make no mistake, semiconductor chips or integrated circuits are an integral part of almost every technological device around you. And Intel is a huge company with many products and many clients. Those semiconductors Intel is planning to produce will go everywhere. However, there\u2019s no denying that ASICs are a big part of the company\u2019s future plans.<\/span><\/p>\n

Recently, NewsBTC <\/span>quoted Intel\u2019s CEO Pat Gelsinger<\/span><\/a> saying:<\/span><\/p>\n

\u201cIntel is about to bring forward a blockchain chip that\u2019s dramatically better. That is orders of magnitude better in terms of power performance. So, we\u2019re helping solve the climate issue.\u201d\u00a0<\/span><\/p><\/blockquote>\n

Exaggerations aside, Pat Gelsinger was a big part of President Biden \u2018s State of the Union address the other day.<\/span><\/p>\n

What Did President Biden Say About Intel?<\/span><\/h2>\n

One of Biden \u2018s big success stories was Intel\u2019s $20B investment in Ohio. The plant they plan to build will manufacture semiconductor chips. There\u2019s a global shortage for those, and more than 170 industries depend on them. Nowadays, China, South Korea, and Taiwan are the main producers of integrated circuits. And those factories are working full time to fulfill an ever-increasing demand.<\/span><\/p>\n

Enter Ohio. As <\/span>The Columbus Dispatch<\/span><\/a> put it:<\/span><\/p>\n

\u201cIntel 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.\u201d<\/span><\/p><\/blockquote>\n

They also quote President Biden channeling his inner poet:<\/span><\/p>\n

“If you travel 20 miles east of Columbus, Ohio, you\u2019ll find 1,000 empty acres of land. It won\u2019t look like much, but if you stop and look closely, you\u2019ll see a ‘field of dreams,’ the ground on which America\u2019s future will be built.\u201d<\/span><\/p><\/blockquote>\n

And then and there, he mentioned Pat Gelsinger by name, as the man to make it happen. President Biden didn\u2019t mention bitcoin mining, though.<\/span><\/p>\n

\"BTCUSD<\/p>\n

BTC price chart for 03\/03\/2022 on Bitstamp | Source: BTC\/USD on TradingView.com<\/a><\/pre>\n
The U.S.\u2019s Plan To Manufacture Semiconductors<\/span><\/h2>\n
The global chip shortage presents an obvious opportunity, and the U.S. wants to take advantage of it. Intel\u00b4s play is part of a bigger move. In <\/span>the article<\/span><\/a> \u201cBitcoin Mining And The Global Semiconductor Shortage Are On A Collision Course,\u201d security expert Shinobi informed us:<\/span><\/p>\n
\u201cThe United States Senate has recently passed the \u201c<\/span>U.S. Innovation and Competition Act<\/span><\/a>,\u201d which will spend $52 billion dollars on increasing domestic semiconductor fabrication capacity, and the \u201c<\/span>CHIPs for America Act<\/span><\/a>\u201d being introduced in the Senate to create income tax credit for semiconductor companies.\u201d<\/span><\/p><\/blockquote>\n
So, Intel is going to benefit from all of that. Plus, they\u00b4re going to use those semiconductor chips to aggressively step into the bitcoin mining business. A business traditionally controlled by Chinese companies Bitmain and MicroBT. Can Intel compete with them? According to a recent <\/span>SEC filing NewsBTC reported on<\/span><\/a>, they can:<\/span><\/p>\n
\u201cWhen the world first heard about Intel\u2019s ASIC ambitions, the company cleverly described the machines as \u201cultra-low-voltage energy-efficient.\u201d How efficient will they actually be? Tom\u2019s hardware answers:<\/span><\/p>\n
\u201cAccording to the listing, BMZ2\u2019s 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.\u201d<\/span><\/p><\/blockquote>\n
To better understand the plan, let\u2019s quote Shinobi once again:<\/span><\/p>\n
\u201cThe dynamics of who can and can\u2019t 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.\u201d<\/span><\/p><\/blockquote>\n
President Biden And Intel Are Not Playing Around<\/span><\/h2>\n
As you can see, both President Biden and Intel have an ambitious game plan. Is bitcoin mining a part of the plan? In Intel\u2019s case, the answer is an obvious yes. On the other hand, Joe Biden didn\u00b4t even mention the topic in his speech. It was always there in the background, though. At least according to us.<\/span><\/p>\n
Let\u2019s close with another quote from Biden ‘s State of the Union address:<\/span><\/p>\n
“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.”<\/span><\/p><\/blockquote>\n
That\u2019s great, but\u2026 about that \u201cplan to fight inflation\u201d… what about stopping the rampant money printing?<\/span><\/p>\n
Featured Image: President Biden's State of the Union address, screenshot from this video<\/a> | Charts by TradingView<\/a><\/pre>\n","protected":false},"excerpt":{"rendered":"
Intel played a big role in President Biden \u2019s State of the Union address. He highlighted the company\u2019s plan to manufacture semiconductor chips in Ohio, and said, \u201cMake more cars and semiconductors in America. More infrastructure and innovation in America.” Was he secretly approving Intel\u2019s plan to produce ASIC bitcoin miners? Or did he not know that those semiconductors are an integral part of those machines? Make no mistake, semiconductor chips or integrated circuits are an integral part of almost every technological device around you. And Intel is a huge company with many products and many clients. Those semiconductors Intel is planning to produce will go everywhere. However, there\u2019s no denying that ASICs are a big part of the company\u2019s future plans. Recently, NewsBTC quoted Intel\u2019s CEO Pat Gelsinger saying: \u201cIntel is about to bring forward a blockchain chip that\u2019s dramatically better. That is orders of magnitude better in terms of power performance. So, we\u2019re helping solve the climate issue.\u201d\u00a0 Exaggerations aside, Pat Gelsinger was a big part of President Biden \u2018s State of the Union address the other day. What Did President Biden Say About Intel? One of Biden \u2018s big success stories was Intel\u2019s $20B investment in Ohio. The plant they plan to build will manufacture semiconductor chips. There\u2019s a global shortage for those, and more than 170 industries depend on them. Nowadays, China, South Korea, and Taiwan are the main producers of integrated circuits. And those factories are working full time to fulfill an ever-increasing demand. Enter Ohio. As The Columbus Dispatch put it: \u201cIntel 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.\u201d They also quote President Biden channeling his inner poet: “If you travel 20 miles east of Columbus, Ohio, you\u2019ll find 1,000 empty acres of land. It won\u2019t look like much, but if you stop and look closely, you\u2019ll see a ‘field of dreams,’ the ground on which America\u2019s future will be built.\u201d And then and there, he mentioned Pat Gelsinger by name, as the man to make it happen. President Biden didn\u2019t mention bitcoin mining, though. BTC price chart for 03\/03\/2022 on Bitstamp | Source: BTC\/USD on TradingView.com The U.S.\u2019s Plan To Manufacture Semiconductors The global chip shortage presents an obvious opportunity, and the U.S. wants to take advantage of it. Intel\u00b4s play is part of a bigger move. In the article \u201cBitcoin Mining And The Global Semiconductor Shortage Are On A Collision Course,\u201d security expert Shinobi informed us: \u201cThe United States Senate has recently passed the \u201cU.S. Innovation and Competition Act,\u201d which will spend $52 billion dollars on increasing domestic semiconductor fabrication capacity, and the \u201cCHIPs for America Act\u201d being introduced in the Senate to create income tax credit for semiconductor companies.\u201d So, Intel is going to benefit from all of that. Plus, they\u00b4re going to use those semiconductor chips to aggressively step into the bitcoin mining business. A business traditionally controlled by Chinese companies Bitmain and MicroBT. Can Intel compete with them? According to a recent SEC filing NewsBTC reported on, they can: \u201cWhen the world first heard about Intel\u2019s ASIC ambitions, the company cleverly described the machines as \u201cultra-low-voltage energy-efficient.\u201d How efficient will they actually be? Tom\u2019s hardware answers: \u201cAccording to the listing, BMZ2\u2019s 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.\u201d To better understand the plan, let\u2019s quote Shinobi once again: \u201cThe dynamics of who can and can\u2019t 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.\u201d President Biden And Intel Are Not Playing Around As you can see, both President Biden and Intel have an ambitious game plan. Is bitcoin mining a part of the plan? In Intel\u2019s case, the answer is an obvious yes. On the other hand, Joe Biden didn\u00b4t even mention the topic in his speech. It was always there in the background, though. At least according to us. Let\u2019s 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\u2019s great, but\u2026 about that \u201cplan to fight inflation\u201d… what about stopping the rampant money printing? Featured Image: President Biden’s State of the Union address, screenshot from this video | Charts by TradingView<\/p>\n","protected":false},"author":539,"featured_media":485101,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[85589,953,1310,85593,85590,6243,85231,3245,85502,85585,85587,85588,85591,7702,85586,4047,85592],"class_list":["post-485100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-asic-bitcoin-miners","tag-bitmain","tag-china","tag-chips-for-america-act","tag-integrated-circuits","tag-intel","tag-microbt","tag-ohio","tag-pat-gelsinger","tag-president-biden","tag-semiconductor-chips","tag-semiconductors","tag-shinobi","tag-south-korea","tag-state-of-the-union","tag-taiwan","tag-u-s-innovation-and-competition-act"],"acf":[],"yoast_head":"\nBiden Loves Intel\u2019s Plan To Produce Semiconductors. What About Bitcoin Mining?<\/title>\n<meta name=\"description\" content=\"Intel played a big role in President Biden \u2019s State of the Union address. He highlighted the company\u2019s plan to manufacture semiconductor chips in Ohio,\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/biden-loves-intels-plan-to-produce-semiconductors-what-about-bitcoin-mining\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Biden Loves Intel\u2019s Plan To Produce Semiconductors. What About Bitcoin Mining?\" \/>\n<meta property=\"og:description\" content=\"Intel played a big role in President Biden \u2019s State of the Union address. 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