As the Korean newspaper The Bell reports, relayed by our colleagues at The Next Web, Samsung will supply ASICS chips to a Chinese company specializing in the mining of cryptocurrencies. More specifically, Samsung will design and mass produce ASIC hardware, while its business partner, still anonymous, will distribute the processor on the market. Samsung's hardware would have entered the production phase at the end of June 2019.
Bitcoin: Samsung will supply a Chinese company specializing in cryptocurrency
According to a Samsung spokesperson at The Bell, "Samsung is currently operating a smelter that supplies a Chinese company specializing in cryptocurrency with ASIC equipment and chips." However, despite the magnitude of this deal, the deal will not be as juicy as expected for the builder. As Hwang Min-seong, an analyst at Samsung, points out, the production of ASIC chips would only have a moderate impact on the Korean giant's revenues. The smelter represents only a tiny part of Samsung's profits, so it is difficult to predict the impact of this agreement from a financial point of view. "
As The Next Web points out, this decision does not come from nowhere "the South Korean giant has already shown interest in the blockchain world". A few months ago, the manufacturer has indeed made an agreement with a Russian firm to provide ASIC chips. Samsung has also taken a close interest in another rising crytptomtice: the IOTA. Several large companies, such as Microsoft and Volkswagen, are already committed to working with virtual currency, based on connected objects.
As a reminder, Samsung is not the only company in the middle of the smartphone to lean towards Bitcoin. Fearing low sales, TSMC, the iPhone processor provider, decided to focus on the production of chips dedicated to Bitcoin mining. What do you think of the decision of these two firms? Do you believe in the future of cryptocurrencies?
