The post ByteDance’s rush for Nvidia chips backfires as China blocks their use appeared on BitcoinEthereumNews.com. Key Takeaways ByteDance spent billions stockpiling Nvidia GPUs like H100 and H20 ahead of US export restrictions. Chinese regulators have blocked ByteDance from using Nvidia chips in new data centers, leaving many chips unused. TikTok-owner ByteDance has encountered an unexpected hurdle, as Chinese regulators have prohibited the use of Nvidia chips in its new data centers, according to The Information, which cited two company employees. China is requiring new data center projects using state funds to use only domestically-made AI chips, per Reuters. ByteDance reportedly spent billions to stockpile Nvidia’s top GPUs, aiming to maintain computing power for its billion-plus users as US export restrictions limited shipments of advanced chips to China. The US has blocked sales of Nvidia’s top chips to China, allowing only scaled-down models like the H20. After discussions with Xi Jinping, President Trump said Washington would permit dealings with Nvidia, but not for its most advanced chips. Source: https://cryptobriefing.com/nvidia-chip-restrictions-bytedance-china/The post ByteDance’s rush for Nvidia chips backfires as China blocks their use appeared on BitcoinEthereumNews.com. Key Takeaways ByteDance spent billions stockpiling Nvidia GPUs like H100 and H20 ahead of US export restrictions. Chinese regulators have blocked ByteDance from using Nvidia chips in new data centers, leaving many chips unused. TikTok-owner ByteDance has encountered an unexpected hurdle, as Chinese regulators have prohibited the use of Nvidia chips in its new data centers, according to The Information, which cited two company employees. China is requiring new data center projects using state funds to use only domestically-made AI chips, per Reuters. ByteDance reportedly spent billions to stockpile Nvidia’s top GPUs, aiming to maintain computing power for its billion-plus users as US export restrictions limited shipments of advanced chips to China. The US has blocked sales of Nvidia’s top chips to China, allowing only scaled-down models like the H20. After discussions with Xi Jinping, President Trump said Washington would permit dealings with Nvidia, but not for its most advanced chips. Source: https://cryptobriefing.com/nvidia-chip-restrictions-bytedance-china/

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more