Samsung bet on bitcoin

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Samsung is fully involved in the development of ASIC for Bitcoin, in principle for the Chinese market, although the plans are to offer the products to South Korean and Japanese companies and in the future to mount miners through GPU.

Enter a new player in the mining of cryptocurrencies and more specifically, in the development of ASIC for the mining of Bitcoin and similar cryptocurrencies, which are based on the same protocol. Samsung, the South Korean giant enters the mining market, with its own ASICs. According to local media, Samsung, last year partnered with a Chinese Bitcoin mining company and the result has been the development of ASIC chips. The idea of ​​the South Korean company is to assemble ASIC miners in its plant, which will be sold, in a first phase, to the Chinese market.

The company has plans to start developing miners for China and then sell them to South Korea and Japan, which are the biggest users of this type of machine. He has been a spokesman for Samsung, who announces that the company will allocate a smelter to the miners' manufacturing, in order to meet the demand of the Chinese mining company of BTC with which it has partnered. The bet is clear, the Chinese market, but they do not finish being sure of what it can mean for the company to get into this market.

"Samsung is operating a smelter that supplies a Chinese crypto-mining company with mining equipment and ASIC chips. Since Samsung has just started its cryptocurrency mining company, it is not sure of the income it can generate from it, "said a representative of the company.

This is only a step, since Samsung has plans to build miners GPU to mine Altcoin. The South Korean company has many semiconductor production plants around the world and cutting edge, able to meet any type of order. Samsung is currently the only provider of OLED displays for Apple's iPhone X, which shows the power of the company.

TSMC, the Taiwanese company, is now the only major company that works in the manufacture of semiconductors and has a unique foundry for the manufacture of mining equipment, in this case ASIC for BTC for the company Bitmain. The impact on Samsung's finances is not expected to be much, but it can be the start in an industry that moves millions of dollars and those that are about to be moved in coming months and years

sources: https://hardwaresfera.com
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