Samsung To be the Next Mining Giant?
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.
I wouldn’t mind having one of those cell phone mining rigs!
Ha Ha I know right? Looks cooler than my GPU mining rigs.
The Samsung experiment is quite interesting, read about it some weeks/months ago. It would be a good way to give old mobilphone hardware another purpose then just laying around or get thrown out.
On the other side, if there would be something more professional like manuals how to work with them, I assume the second hand prices would go up also.
Anyways, I think the most important part for mining bitcoin is to get the energy use down to keep it more eco-friendly and with it also more cost-efficient for the miner.
Very true. Samsung should share their phone re-purposing technology with the world as a means of recycling.
That would be cool of course. I wonder if there are any self made things out there for something like this so far?
i entirely agree @elite.skeete. the more companies offering mining equipen the more competition and so their should be competitive pricing and more innovation hopefully
Logically that should be how it happens but who knows. All I know is I am happy as long as more companies and people are getting involved.
Muy buena noticia
You think built in asic mining in phones or standalone units (chip- building)???
They will be building stand alone units. Most likely they will only be manufacturing the chips for the ASIC rigs and getting their partners to assemble the final product.