Samsung is about to launch production of Bitcoin mining chips

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2022-07-02 05:56:40

As revealed in its Q1 2022 financial report, Samsung is said to be about to begin the production process of ASIC-series Bitcoin mining chips.

On June 30, South Korea’s largest technology empire announced that it is preparing to launch a new generation of Bitcoin mining chips, capable of “reforming the chip industry”. Specifically, the new chip is only 3nm in size. Moreover, extremely low power consumption, 30% energy saving, 15% increase in mining speed, and 33% higher encryption efficiency.

Samsung produces a new generation of Bitcoin mining chips

The tech giant’s first customer was PanSemi, a Chinese ASIC unit, and recently Qualcomm placed an order. However, Qualcomm’s order agreement was not completed when the company requested 4nm chips, because Samsung could not accommodate.

Most prominently, the 3nm chip is positioned to bring new power to the cryptocurrency mining industry with the overall SHA256 hashrate. Compared to the 7nm and 5nm chip generations manufactured by the usual FinFET process, the 3nm chip was born based on Gate All Around technology (GAAFET). This is a technology that reduces the size of silicon, resulting in better performance. Overall, the testing process has now recorded significant effort and is ready for production line.

In recent months, the hash rate on the Bitcoin network has increased despite the crypto market undergoing a major correction. According to Finbold, the hashrate stabilized in June at around 215 EH/s after hitting a record high of 220 EH/s in May.

In fact, before Samsung, Intel was the first to enter the Bitcoin mining field when it officially launched the new generation Bitcoin mining chip “Intel Blockscale ASIC”, focusing on environmental sustainability. Each Intel chip can be combined into a single mining unit, increasing up to 256 integrated chips per chain.

From the beginning of 2022 until now, Samsung has continuously shown its determination to go deep into crypto in various areas of Web3, to NFT or metaverse. The opening is the event that combines Decentraland to participate in Metaverse to create the first 837X store. In March, Samsung started planning to develop Metaverse devices and partnered with Nifty Gateway to develop the first NFT Smart TV Platform. The company also boldly injected 25 million to a local metaverse start-up in April and launched an ETF focused on Blockchain and cryptocurrency in May. In early June, Samsung launched a product. Discord server to support Web3 and NFT distributions.

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