Samsung has began mass producing bitcoin mining chips in partnership with an unidentified Chinese mining firm.
The information was reported by South Korean information outlet The Bell yesterday, citing unnamed Samsung officers as its supply.
Samsung was slated to start out mass producing the chips – referred to as application-specific built-in circuits (ASICs) – this month, for distribution by the Chinese agency, it provides.
Rumors of Samsung’s ventures in mining date again to final October when the corporate unveiled a bitcoin mining rig composed of previous Android smartphones at a U.S. developer’s convention.
The stories have been considerably contradictory, and it’s unclear if the corporate has a number of partnerships within the works. In December, The Investor – one other South Korean information outlet – reported that Samsung had partnered with a Russian bitcoin mining firm referred to as Baikal to supply ASICs, the manufacturing of which was additionally set to begin in January.
Samsung’s shift towards manufacturing processors for the crypto mining business marks an enlargement of its present chip merchandise, which reportedly accounted for greater than 60 % of its 2017 working income.
If confirmed, the corporate’s involvement in mining will supply critical competitors to the prevailing business chief, China-based Bitmain, which claims to carry over 70 % of the market share.
Users on Twitter have been fast to level out that the sheer measurement of Samsung’s semiconductor plant would give the agency an automated benefit.
Samsung picture by way of Shutterstock