One of the largest companies in the world and a leading smartphone and chip manufacturer, Samsung, has just began designing ASIC chips specifically for Bitcoin mining. The news comes from local media reports that are certain that the company will confirm that very soon.
However, such a statement would definitely affect the price of Bitcoin, which is why Samsung remains idle at the moment. The leading electronics giant (which owns one of the largest semiconductor plants) has completed the development of its ASIC chips in 2017 and began the mass production recently.
Rumors say that Samsung is supplying the ASIC chips to an unnamed Chinese company that is specialized in building Bitcoin mining equipment. It also aims to target the Chinese market before expanding into other regions.
According to a Samsung spokesperson in an interview with a media outlet, Samsung is in the middle of something big. As he said, “We are in the middle of a foundry business that is being supplied to a virtual money mining company in China,”
The publication also notes that currently the Taiwan-based TSMC is the only rival to Samsung in this market looking to form a similar partnership with a Bitcoin mining hardware manufacturer named Bitmain.
However, a report from the tech outlet DigiTimes also states that Bitmain’s chip orders will occupy as much as 90% of the TSMC foundry capacity. This certainly leaves room for the electronics giant Samsung to take advantage of the situation, scale up the operations and lead the world to a new revolution.
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