Chinese electrical appliances manufacturer, the Midea Group, has filed a patent for a technique for mining Bitcoin using household products. The patent application was published earlier in 2017 by the State Intellectual Property Office (SIPO) of the People’s Republic of China.
Based on the patent application, Midea plans to embed specialized mining chips inside its appliance products like air conditioners, dehumidifiers, and TV for the purpose of digital currency mining. Once the chips are programmed, the products will then connect to a cloud-based service and contribute their hashing power to mine cryptocurrencies.
Midea Group
The Midea Group currently ranks 450 on the Fortune Global 500 list as of August 2017. The company has more than 125,000 employees around the world. The household appliances manufacturer posted over $22 bln in revenue and $2 bln in profits for its fiscal year (FY) 2016.
Among the products manufactured by the firm are <Read More>