Lyric discussion by kierano 

Cover art for MOS 6581 lyrics by Carbon Based Lifeforms

Well the MOS 6581 was the sound chip for the Commodore 64 and related personal computers, so obviously has a special place for electronic musicians.

How it relates to Mongol horse racing, I'm not too sure. Maybe the fact that the C64 had the first dedicated sound chip on a home PC made it the "winning horse", and now CBL consider it to somehow have magical powers?