Samsung has a lot of products in the technology sectors. It’s not surprising if the tech giant company gets into the game of bitcoin. The company spokesperson mentioned that the Samsung is engaged in manufacturing the cryptocurrency mining chips. They have the taste of mining the cryptocurrency; they also produce memory chips for GPU’s which have seen a huge spike in the price ever since altcoin become popular in summer 2017.
The chips will be supplied to the ASIC manufacturers that produce the consumer-ready hardware to sell to the consumers.
The Bitcoin’s Asia Centralization
The Bitmain, an ASIC manufacturer, has a monopoly in the space. They are successful in producing the most efficient miners in the industry, where the profit margins are razor thin. The product designed in a better way can excel in the market and give a stiff competition to the competitors. The networks are currently working with the TSMC, a Taiwanese chip manufacturing company. So, in other words, Samsung is a direct competitor to the Taiwanese chip manufacturing company. With the starting of the new competition can spawn the new hardware manufacturer and may encourage Samsung to build ASICs themselves.
The Bitmain came under the lens of media since from the day they announced that they would manufacture ASIC’s for Ethereum and Monero. The Monero team decide to tweak the mining algorithm to brick the ASIC mining on the network. It was further upgraded to the scheduled network this month. So far the jury will decide that whether the team of Ethreum will take action or not.
The BigTech Coming In
Samsung is not the only company to acknowledge the growth of cryptocurrency. NVIDIA’s GPUs have recorded a huge spike in the past years. The cryptocurrency is making the mining more profitable. The CEO of NVIDIA has mentioned the issue to the public asking the sales to gamers over the miners.