When the unexpected happens, everybody is like…WHATTT!!!. Well, Samsung just got into cryptocurrency business. The South Korean Multinational begins manufacturing Chips For Bitcoin Mining Hardware.
Samsung Making Chips For Bitcoin Mining Hardware
First of all, this is going to be a huge business for Samsung. The South Korean Electronic giant completed the mining hardware for cryptocurrencies it started in 2017. According to GSMArena, the ASIC (Application-Specific Integrated Circuit) went into mass production in January 2018. Besides, it was revealed by Samsung that the ASIC chips were shipped to an unknown company in China ” after production”.
After the deal was closed by both ” Samsung & Bitcoin”, many people started to freak out. They were thinking that this would have a negative impact on 2018 Samsung Galaxy phones chips production. A Samsung Security analyst announced that ASICs benefited only a small portion of the capacity of Samsung’s foundries. Meaning that it is a matter that shouldn’t affect the production of other chips.
However, many investors out there believe this is a win for Samsung. According to GSMArena “Bitmain is one the biggest producer of Bitcoin mining hardware. And it sources its AntMiner chips over at TSMC (based on its 16nm process). Samsung comes in as a great competitor with new and different technologies for developing advanced Bitcoin chips.
Moreover, reports stated that this deal will generate a revenue of up to $ 350 to $ 400 million in benefits. That is good value actually, but it will just be a small portion which does not make any changes in Samsung annual $ 69 Billion revenue.