Worldwide known Samsung started producing chips for mining cryptos, as local media says. The giant manufacturer created the plan for this project in 2017, and the general production began in January.
The company supplies their ASIC chips to Chinese company that manufactures mining machines and, surprisingly, unknown to the world. Firstly, Samsung wants to expand its hardware over the whole Chinese market, and go further to others after achieving success in the region.
News resources don’t tell the public what is that Chinese company. However, there is a chance that Samsung wants to beat the main competitor in the sphere called Bitmain. This firm manufactures mining hardware and dominates in the crypto market now.
We want to remind you that Samsung used 40 phones to build a powerful mining rig in 2017. They pretended to show their clients new opportunities for using their old smartphones. Surely, it was just an experiment, but the fact is that the company was developing their ASIC chips at the same time, so there was a reason for their interest to mining.
Though, they are not the first firm to come into the crypto mining industry. The Eastman Kodak company has got the license for making such hardware.
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