If you have an iPhone, the screen through which you get your information, a nice piece of OLED technology, is made by Samsung. It's very important to know that, because Samsung own and operates one of the largest semi-conductors plants in the world.
And when a player this size reports interest in joining the ASIC mining chips game, you know something big is cooking. According to some reports popping up in local media, and cited in this piece from newsbtc.com, Samsung already partnered with a local Chinese player and developed their own ASIC chips.
A Samsung spokesperson told local media that the company will operate a foundry to manufacture mining equipment and to match the supply requested by the Chinese bitcoin mining firm it has partnered with. In the beginning, Samsung said it will focus its venture on targeting the Chinese market and because Samsung has just started its foundry business, it is not unsure of the revenues its mining venture can generate.
Now, beyond the news there is a bit more context. One that may be surprising for some of you, but easier to understand by others.
One of the biggest players in the Chinese mining hardware is Bitmain, which is reportedly said to heavily back Bitcoin Cash. If Bitmain will finally have a competitor the size of Samsung, interesting things may happen in the market.
One of the scenarios may even involve a price crash of Bitcoin Cash, but since we don't know yet what exactly these ASIC chips will mine, it's hard to tell.
But competition is always good, isn't it?
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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Wow this is good news, Bitmain has been poison for BTC and competition is more welcome than ever! Looks like the mining centralization problem is finally coming to an end!
I I would be a coin now, I will be trying hard to move to PoS
I take a lot of computers apart and I see a lot of Samsung parts. The SP3 I am on right now has a Samsung SSD in there. I find it of that Hitatchi parts are in some computers too. I wonder if a player like Huawei, who we hear nothing about in the US, Quallcom, Intel, or even Cisco will hop on big-time? Samsung moves, others will follow.....
Samsung is the biggest parts producer, Huwaei not that much, mostly assembling other parts. AFAIK.
Intel is launching Hyperledger soon?
Is Huawei like Cisco, but only in the other hemisphere? I had not heard of them until Cisco classes last year.
That certainly would shake things up a bit. Do they have an idea of when they're going to market?
It sounds like they're only looking at Bitcoin blockchain right now. Do you know if they're planning multiple ASICs?
Samsung is always wanna explore new thing and stay in the competition.. They wont be the left-outs when the world is looking forward to crypto generations.. Lets just watch who next to join the game..
Good indeed. The more manufacturers making mining chips the better. Bitmain has a monopoly on ASIC miners and this is much needed. I hope AMD and INTC start making mining chips too. Bring down the cost and increase efficiency.
Would be interesting to see a steady supply of miners. Wonder what this will mean for "small time" miners right now or if soon everyone will have some sort of mining rig down in their basement?
In the same news there's word about Samsung also building GPU miners, for "small scale guys"...
Honestly I've been looking into setting up a small scale mining farm. I've been working with my friend to crunch the numbers and this would be awesome news for me. I'd love just to learn how and would be honestly happy with breaking even the first year or so just to figure everything out.
Wow, big news. Your turn intel/amd/nvidia now - more competition needed!
Actually this is a topic in which I have a serious background.
Samsung started to provide foundry (semiconductor fabrication plant operation) services. In microelectronics, this means that a company using it's manufacturing infrastructure and the know-how of it's manufacturing processes to produce designs of their customers.
Most of the modern semiconductor industry is using this model, with huge foundries like TSMC, Global Foundry, UMC, and several others...
But this does not mean that Samsung is entering the world of ASIC mining hardware, or that it's partnership with designers of mining hardware. They just load their production lines with designs of others. Actually they offered foundry services in the past, and if you check wikipedia, in 2013 they earned 4 billion USD out of it.
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