Samsung Electronics penned a contract with a bitcoin mining company in China and has started its mass production of chips supply this January.

Samsung Group has proved its strength through its innovative culture with its smartphone products. They set their spot in the market. People know well where the company stands and what it is capable of. As the world gets more advanced, it is not surprising to see Samsung embark on the world of bitcoin mining.

Since last year, Samsung already completed the operations needed for bitcoin and for the development of Application Specific Integrated Circuit (ASIC) semiconductor. The spokesperson of Samsung Electronics disclosed that they are amidst a foundry business that is provided to a virtual money mining Chinese company.

The ASIC market has boomed in 2017 along with its price rally. Even the world’s largest semiconductor foundry, Taiwan Semiconductor Manufacturing Company (TPE: 2330) expects stronger demand for cryptocurrency mining this year. TSMC anticipates the highest growth potential BitCoin mining hardware has to offer.

One of the hardware manufacturers, Bitmain, also used its strong profit to produce more chips. These powerful entities mentioned above are putting so much faith in bitcoin mining industry. But, will they be able to offset the sales of iPhone X?

Aside from bitcoin ASIC, Samsung also looks forward to gaining profit from GPU (graphic processing unit) Mining. Chip manufacturers like Samsung know how to play their cards. They did a high volume production of a new kind DRAM or Dynamic RAM for graphics cards. The design of this card fits well with the cryptocurrency mining market. It is a good strategy knowing that DRAMs are cheaper to manufacture.

The product 10-nanometer GDDR6 (Double Data Rate Type 6) 16Gb DRAM has the same speed as the latter product, GDD5R. Samsung also improved GDDR6 its efficiency in power by 35 percent. Its memory is even faster than the previous rate type. To prove even more how fast is GDDR6, its transfer rate is up to 72GB per second. This should result in a more rapid video processing. Maybe it can surpass Ethereum mining? GDDR6 is said to appear on PC graphic cards this year.

With the advanced technology, it is not impossible to see them succeed in the cryptocurrency mining. If they develop more new designs in no time and won’t limit their products to gamers, they might hit the gold.

Will Samsung be supported by its Korean government now that they join the bitcoin system?

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