Samsung Corporation develops ASIC chips for mining Bitcoin

In May of this year, at the MicroBT M20 conference in Chengdu (China), Samsung Foundries China CEO Charles Song announced that the company had been developing and manufacturing 3-nm and 5-nm chips for mining bitcoins all this time.

According to the company's internal documents, Samsung has been developing chips since the first quarter of 2018. At the conference, Samsung publicly announced its strategic partnership with MicroBT, the third largest developer of ASIC miners after Bitmain and Canaan.

Despite its lagging behind the two dominant companies, MicroBT is known for the performance and energy efficiency of its chips, which is crucial.

This news is quite expected. Samsung is the second largest semiconductor company in the world, second only to Intel in revenue. The mining equipment niche is growing as the market capitalization of PoW-cryptocurrency grows.

Samsung produced chips in the newest line of MicroBT devices – WhatsMiner M20S, which has a speed of 68 Tx / s with an efficiency of 48 W on the Terahash.

For reference, the standard ASIC Bitmain Antminer S9 reaches 13.5 Tx / s with an energy efficiency of 98 W / Tx. The M20S is five times more powerful and consumes half the energy at a comparable retail price in Chinese yuan, equivalent to $ 2,450.

In February, Samsung announced that its new smartphone Galaxy S10 will include a crypto storage for Ethereum and ERC20 tokens .

Last year, Samsung SDS, a subsidiary of the technical giant, also announced that it was considering a blockchain for its supply chain. The company is developing its own blockchain based on Ethereum, which is likely to lead to the emergence of the Samsung Coin token in 2020.

Publication date 05/06/2019
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