Samsung Begins Production of Bitcoin Mining Chips
The so-called Samsung electronics giant has started mass producing bitcoin mining chip. This production is a collaboration with a Chinese virtual currency mining company whose identity is unknown.
Citing Coindesk, Thursday (1/2/2018), a source from Samsung's internal states, Samsung has started to produce so-called application-specific integrated circuit (ASIC) this month. The products will be distributed by Chinese compan.
Rumors related to the Samsung joint venture related to bitcoin mining has appeared since October 2017 ago. At that time, Samsung exhibited a bitcoin mining device made of old Android smart phones.
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It is not clear whether Samsung is partnering with other companies related to the production of bitcoin mining devices. In December 2017, Samsung also reportedly partnered with bitcoin mining company from Russia, Baikal, in producing ASIC.
Reportedly, ASIC production of cooperation with Baikal began in January 2018 ago. Samsung's business shift to processor production for the virtual currency mining industry marks the expansion of its existing chip products business.
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The chip or semiconductor business unit alone accounts for approximately 60 percent of Samsung's total operating income. If the news about chip production for bitcoin mining is confirmed, then the competition in this field of business will be more stringent.
Currently the bitcoin mining chip industry is controlled by a Chinese company, Bitmain. The company claims a 70 percent share of the marke
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