Intel played a big role in President Biden ’s State of the Union address. He highlighted the company’s plan to manufacture semiconductor chips in Ohio, and said, “Make more cars and semiconductors in America. More infrastructure and innovation in America.” Was he secretly approving Intel’s plan to produce ASIC bitcoin miners? Did he know those semiconductors were an integral part?
You can’t deny that semiconductor chips and integrated circuits play an important role in almost all technological devices. Intel is an enormous company that has many products and clients. Intel plans to make semiconductors that will travel everywhere. However, there’s no denying that ASICs are a big part of the company’s future plans.
NewsBTC was recently added to the list. quoted Intel’s CEO Pat Gelsinger saying:
“Intel is about to bring forward a blockchain chip that’s dramatically better. This chip is a hundred times more efficient in terms of its power efficiency. So, we’re helping solve the climate issue.”
Exaggerations aside, Pat Gelsinger was a big part of President Biden ‘s State of the Union address the other day.
Was President Biden Right About Intel?
One of Biden ‘s big success stories was Intel’s $20B investment in Ohio. The plant will only produce semiconductor chips. There’s a global shortage for those, and more than 170 industries depend on them. Today, integrated circuits are mainly produced in China, South Korea, Taiwan, and Taiwan. These factories continue to work hard in order to satisfy an ever-increasing customer demand.
Ohio. You can also enter Ohio. The Columbus DispatchPut it this way:
“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.”
You can also see President Biden channeling your 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.”
He mentioned Pat Gelsinger as the person to do it. President Biden didn’t mention bitcoin mining, though.
Source: BTC/USD on TradingView.com| Source: BTC/USD on TradingView.com
The U.S.’s Plan To Manufacture Semiconductors
There is a global shortage of chips, which presents an opportunity that the U.S. intends to seize. Intel’s play is part of a larger move.tel´s play is part of a bigger move. In The article “Bitcoin Mining And The Global Semiconductor Shortage Are On A Collision Course,” security expert Shinobi informed us:
“The United States Senate has recently passed the “U.S. Innovation and Competition Act,” which will spend $52 billion dollars on increasing domestic semiconductor fabrication capacity, and the “CHIPs for America Act” being introduced in the Senate to create income tax credit for semiconductor companies.”
Intel stands to gain from this. Plus, they´re going to use those semiconductor chips to aggressively step into the bitcoin mining business. A company that was once controlled by Chinese companies Bitmain, MicroBT. Is Intel able to compete with them? Recent research suggests that Intel can compete with them. SEC NewsBTC filed onThey can.
“When the world first heard about Intel’s ASIC ambitions, the company cleverly described the machines as “ultra-low-voltage energy-efficient.” How efficient will they actually be? Tom’s hardware answers:
“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 better understand the plan, let’s quote Shinobi once 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.”
Intel and President Biden Aren’t Playing Around
Both President Biden (and Intel) have an ambitious gameplan, as you can see. Does bitcoin mining make up part of this plan? In Intel’s case, the answer is an obvious yes. On the other hand, Joe Biden didn´t even mention the topic in his speech. However, it was there all the time in the background. We think so.
Let’s close with another quote from Biden ‘s State of the Union address:
“I have a better plan to fight inflation. Your costs should be lower than your wages. America should produce more semiconductors and automobiles. More infrastructure and innovation in America.”
That’s great, but… about that “plan to fight inflation”… what about stopping the rampant money printing?
Featured image: President Biden screenshot taken from this video by Charts By TradingView| Charts by TradingView