Samsung, the global leader of consumer electronics manufacturing, has come up with the plan of mass production of the mining chips for Bitcoin in a joint venture with an unknown Chinese company of the Bitcoin mining domain.
Reports of these kind have emerged in the newspaper from the South Korean nation the name of which is The Bell. The news report has cited some unnamed officials of the Samsung as its official source. The news report has added that Samsung has started to mass produce the Bitcoin mining chips which are otherwise known as ASIC that is Application Specific Integrated Circuits to be distributed by a Chinese company. Rumors of the similar type have come up in market even in the last year when in October it was realized that at a Developers’ Congress held in the United States of America; Samsung had innervated mining rig structures for Bitcoin entirely made up of refurbished smartphones of Android.
Although the news was itself contradictory as it is still not clear whether the Samsung had numerous partnerships in its work or not. In the December of the Year 2017 when the prices of Bitcoins were rallying to huge limits crossing the mark of 20,000 US Dollars for each Bitcoin token; news of this sort came up in another newspaper of South Korea where it was said that Samsung has a started a joint venture with the Bitcoin mining firm situated in Russia; the name of which is Baikal, to manufacture Application Specific Integrated Circuits (ASICs). In the same report it was said that the manufacturing of ASIC miners for the Bitcoin mining shall start in January of year 2018.
If the news proves to be true then it would expand Samsung’s already diversified portfolio where it generates more than half of its operating revenue just by manufacturing of its computer chips. The entry of Samsung in the production of Application Specific Integrated Circuits shall be a huge leap into the cryptocurrency domain. Twitterati was very quick to indicate that the sheer magnanimous size of the semiconductor manufacturing facility of Samsung automatically provides a strategic advantage to Samsung if it puts its feet into the Bitcoin industry which is already thriving by all parameters