We all know very well that the increasing interest in cryptocurrencies and the high profits they are making, it is only natural that many industry giants begin to look at this area as a possible source of income, at various levels. Hence, according to the latest reports, the South Korean giant Samsung is reportedly manufacturing cryptocurrency mining hardware.
Samsung Is Manufacturing Cryptocurrency Mining Hardware
With the increasing interest in cryptocurrencies and the high profits they are making, it is only natural that many industry giants begin to look at this area as a possible source of income, at various levels.
The latest to arrive at this territory seems to be the South Korean giant Samsung, which will soon start producing hardware which will be used in crypto-coins mining.
There is still no certainty, but the online newspaper The Bell has revealed that the South Korean giant Samsung will have made an agreement with a Chinese manufacturer for the production of ASIC (application-specific integrated circuit) hardware that specializes in mining crypto-coins.
This manufacturer has not been identified, but it is known that it should be responsible for integrating all these components and creating the equipment that will be used in mining. The sale of these types of equipment will be the responsibility of this Chinese manufacturer.
The production of this new hardware is expected to start in January, with the South Korean giant Samsung ready to produce these components in a massive way, thus satisfying the needs of its Chinese partner.
Samsung (Yes Samsung) has entered production phase of ASIC miners and mining equipment specialized for bitcoin and cryptocurrency mining. This is unprecedented. I believe this would provide Bitmain its first real competitor.https://t.co/66fwxozEVP
— Joseph Young (@iamjosephyoung) January 30, 2019
Although not normal, this is not the South Korean giant Samsung’s first adventure in the field of cryptocurrency mining. Already last year the company, of course, the South Korean giant Samsung had shown a prototype of cryptocurrency miner which is actually based on smartphones.
Altogether there were 40 Galaxy S5’s that were interconnected to create a mining platform. Months later the company, of course, the South Korean giant Samsung has announced the signing with Baikal, a Russian hardware company, also dedicated to cryptocurrency mining.
The arrival of this new element in the production of hardware for virtual currency mining may shake the market a bit, which will see companies like Canaan Creative or Bitmain, which have their processors manufactured by TSMC, have to react in order to stay competitive in the market full of news.
So, what do you think about this new initiative of the South Korean giant Samsung? Simply share all your views and thoughts in the comment section below.