Fabric Systems has raised $13 million in seed funding as it aims to enter the blockchain hardware market. By Aoyon_A
“Most of the funding is going to be used on the Bitcoin side,” Fabric co-founder Michael Gao told CoinDesk. “Some of the funding will be used for pilot experiments in the zero knowledge proof side.”
Participating in the round were Metaplanet - the investment vehicle of Skype co-founder Jaan Tallinn –It's no secret that the bear market hasn’t been kind to the bitcoin miners. Coming out of the downturn, miners will likely require the most efficient form of computers that can mine for crypto, and that’s where Fabric’s new product might fit.“Fabric’s Bitcoin miner will set a new standard for the industry in terms of energy efficiency, cost, and form factor,” according to a statement.
However, bitcoin mining chip making is no easy task as the market is mostly controlled by large manufacturers like Bitmain and MicroBT. While there have been many false promises of competition, there have been some recent successes. Intel, for instance, has entered the bitcoin mining market, to help provide miners with
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