Samsung, one of the largest smartphone companies, enters the Bitcoin mining industry with its new ASIC chip. There are strong rumors that they are manufacturing a 3-nm ASIC chip. Samsung is reportedly making them for an IC firm in China, but there are speculations of the company designing these chips for BTC miners. If it turns out to be true, then they could easily become the largest Bitcoin mining rig manufacturers. It is also going to streamline the industry.
Bitcoin mining requires specialized hardware and cannot be done using graphic cards used for ETH mining. This is why BTC miners use ASIC chips which stand for “application-specific integrated circuits” designed specifically for that purpose. Based on reports from Finbold, Samsung is designing the same kind of chip on a 3 nm process which is going to be very efficient. There are also reports that the smartphone company’s first buyer will be Microbt. Since Samsung is one of the largest chip manufacturers in the world, they could pull it off.
There are some recent developments that also support these rumors. In the latest earnings call of Samsung, the company hinted at new chips that will be coming in 2022. They have also shown interest in NFTs and have released TVs with built-in support for the same. We should also note that Intel and TSMC have entered the Bitcoin mining chip business. While Intel did it recently, TSMC has been in the business for multiple years now.