Local media reported that Samsung last year cooperated with a Chinese company for bitcoin mining and completed the development of its ASIC chips. Samsung have one of the largest semiconductor factory in the world, so they will be the first who produce mining equipment to the Chinese market.
Production of ASIC chips for mining
In the long term, Samsung plans to expand its enterprise for the production of equipment from China to other regions, such as South Korea and Japan, which have a higher demand for cryptocurrency than other countries. Since Samsung has just started mining cryptocurrency, they are not sure about the income that it can receive from it," someone form Samsung said.
Now, the Taiwanese company TSMC remains the only major semiconductor manufacturing company and support the large bitcoin manufacturer of equipment in Bitmain. Samsung's entry into the global mining of the crypto currency sector can provide Bitmain and its partner company TSMC its first real competitor.
In the coming months, Samsung wanna start to produce a GPU miner for miners.
So, what does it mean for us? ( miners and traders)
This is another confirmation of the fact that the cryptoworld will be with us far away and long.
- They released special motherboards for mining,
- Then they started to produce special graphics cards for mining
- Now they will start producing special miners.
And I'm sure that other big companies will follow Samsung decision, soon. It also means that the prices for GPU can decrease if Samsung create something more profitable than the current GPU cards. Then everyone will start buying only their equipment, if it will have a smaller ROI.