Samsung finally announces which company they’re producing ASIC chips for

There has been news since early this year (2018 if you’re reading in the future) that Samsung has been working on creating ASIC chips. Now this does not and did not mean that Samsung would be creating and selling their owner miner (Plus the S series name is already taken!) But that they would be supplying a manufacturer with chips. A fair amount of speculation went to Bitmain as being the partner as they’re the biggest and most likely have the cash to go ahead and try this out but as we found out today, the speculation was wrong.

The company that is working with Samsung is Halong Mining and they are using the Samesung SHA256 chips to produce the Dragonmint T1. Now here we can see how working with experienced chip producers gain an advantage, the Dragonmint T1 mines at 16 Terahash a second the same speed as Bitmain S9 but with one big difference 30% increased efficiency. In the mining world efficiency means everything and that is massive, especially since a company like Bitmain has been producing their own Sha Asics for 9 generations now and have a lot of experience working with it to have Samsung come and so easily beat them down is a shake up to the mining realm.

Will we see others buying Asics from world reknown Fabrications and bringing a heaping amount of competition to Bitmain or will Bitmain use speed and adapt to survive?

-monarch

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About the Author: Monarch

The main poster and owner of Monarchcrypto.com , I am trying to use the site to share correct information in a sea of lies and manipulation that is the cryptoworld.