It seems like Samsung is making a big move into the crypto space and diving in head first. Reports are saying that the technology giant has begun manufacturing ASIC hardware for Bitcoin mining. They will be supplying an unnamed Chinese mining equipment provider with the necessary hardware as early as next month. This will provide viable competition for mining giants such as Bitmain forcing them to step their game up. This will hopefully create more competitive pricing for the hardware as well.
While this may come as unexpected to some, others may remember back in October of last year when Samsung created a mining rig out of 40 old Galaxy S5s. Although this was not in anyway a mining rig to compete with the likes of Bitmain's ASIC hardware it was a neat way for them to experiment and get involved with the overall concept of mining.
Image: Kyle Wiens
My thoughts on this news? I couldn't be happier. The more companies competing to make mining equipment the better the technology gets and the greater the supply. The greater the supply the lower the price untill of course all the extra attention creates an increased demand and the increased demand drives back up the price. I suppose we will have to cross that bridge when we get there, no need to get ahead of ourselves.