DeepBrain Chain, an AI computing platform and marketplace, has signed an agreement with Fujian Dragon AI Computing Center that will involve Dragon purchasing 10,000 of DeepBrain Chain’s AI Miners (AIMs) during 2019. The agreement, which was announced on November 17th, is worth approximately one billion Chinese RMB (USD $144 million).
Once the purchase agreement has been finalized, it’s claimed that the units will be housed in Dragon’s data center. Furthermore, “The partnership will engender a symbiotic relationship in which both parties will utilize their resources and advantages to accelerate the application of blockchain+AI integration among various global industries,” according to an excerpt from DeepBrain Chain’s official announcement.
Dragon AI Cloud Computing Center’s CEO Lingxiao Guo commented the following:
“We think the exponentially increasing need for computing power in the AI industry makes for a promising investment in the near future, and we believe in DeepBrain Chain’s vision. DeepBrain Chain employs blockchain technology to provide cheaper GPU power in order to fulfil the needs of the AI industry.’’
DeepBrain Chain’s AIMs form the backbone of the platform’s network, which can be petitioned for completing AI-related tasks and traditional cryptocurrency mining. It’s claimed that the machines are highly sophisticated and use some of the highest performance GPUs in the market for achieving profitable gains through mining. As such, the deal is described as having an “obvious financial significance,” and that the one billion RMB investment will deeply impact the development of the platform.
According to DeepBrain Chain CEO Feng He, the health of the network relies heavily on the number of AIMs in operation. The 10,000 new machines that will be purchased from next year is set to have a “monumental, gradual increase” in the throughput of processing power for the network to utilize, which may attract additional partnerships and investment.
DeepBrain Chain also stated that “for the region of Mainlaind China, DeepBrain Chain will exclusively sell AIMs to Fujian Dragon AI Cloud Computing Center.”
The full announcement can be found at the link below:
https://medium.com/@DeepBrain_Chain/deepbrain-chain-closes-1-billion-rmb-deal-with-dragon-ai-cloud-computing-center-to-purchase-mining-611d8dd781c4
About The Author: Matthew North
Matthew North is a freelance writer and journalist who resides in East Asia. He spends his time writing and learning about financial technologies like the Blockchain and digital currencies. You can follow him on twitter @fintech_matthew.
More posts by Matthew North