The China-based company MicroBT announced on Friday its strategy of manufacturing ASICs offshore.
Basically, to develop a production center abroad that generates the WhatsMiner devices. Also, generate components for the United States and Canada.
Without a doubt, MicroBT’s WhatsMiner mining rigs have become popular in recent years. As a consequence, the company has been able to obtain a large share of mining device sales.
Additionally, the company indicated that it has partnered with Foundry Digital LLC, based in New York, and a company from Southeast Asia. Thus, improve the efficiency of the supply chain.
What is MicroBT?
Shenzhen Bit Microelectronics Technology Co., Ltd. (also known as MicroBT) was founded in 2016. Currently, it is headquartered in Shenzhen, China.
Now the company is specialized in chip design and production. It is also based on the development of sectors such as Blockchain technology and Artificial Intelligence.
As a curious fact, it is the only Chinese-owned company that operates in the field of manufacturing cryptocurrency mining.
Something simple about ASIC
ASIC is the acronym for Application-specific integrated circuit.
Definitely, ASIC is an integrated circuit tailor-made for a particular use. For example, a chip designed solely for use in a mobile phone is an ASIC. Also, a chip designed solely for Bitcoin mining is another ASIC.
The partnership with Foundry
Along the same lines, on September 25, MicroBT announced a partnership with Foundry. He also explained that he acquired a company in the southeast to develop WhatsMiner equipment. For customers in the United States.
Specifically, Foundry will provide three types of services to the crypto mining environment:
- Consulting services.
- Mining and participation.
- Financing and acquisition of equipment.
For its part, the MicroBT company indicated that: “The association with Foundry and the elaboration of the production procedure abroad. Certainly, they will strengthen control in the United States and Canada”.
In addition, the southeastern producer will allow US purchases. Very important, without the tax obligations evoked by the cold war between China and the United States.
As part of the agreement, Foundry would be the first to receive the new batches of WhatsMiner M30S equipment from the MicroBT company. In fact, produced in Southeast Asian facilities.
That is why Jiangbing Chen, COO of MicroBT Company, said:
«We will continue to work closely with Foundry. To provide the highest quality of machines and after-sales services to our customers in the United States and Canada«.
Definitely, Mike colyer, CEO of Foundry said: «With our collaboration and the improved production capabilities of MicroBT. We look forward to continuing to facilitate the timely acquisition and delivery of Bitcoin mining hardware.«.
Bitmain’s association with Foundry
By the way, Bitmain is also considering customers from North America. With an established store in Malaysia and the recent partnership with Core Scientific.
For example, they will have mining rig repair services in the United States and Canada. In order to significantly reduce equipment downtime, among others.
In short, what do you think about the MicroBT company announcing the ASIC factory offshore? Leave us your opinion in the comment box.
I say goodbye not without first leaving you this phrase of Alexander the Great: «The fate of everything depends on the behavior of each one«.