[Global-Biz 24] Samsung Expands Cryptocurrency Mining Business...Development of 'Squire' and ASIC Chip

Samsung Electronics is competing to develop ASIC chips in earnest. 

Samsung Electronics is competing to develop ASIC chips in earnest.

According to a related industry on the 27th, Samsung Electronics recently signed a contract with Canadian crypto mining company 'Squire' to develop ASIC chips.

Squire is planning to design and manufacture new ASIC mining chips along with Samsung Electronics and GAONCHIPS, a South Korean semiconductor design company. 

Under the agreement, Squire and Samsung Electronics will enter into a major competition with Bitmain, the world's largest crypto mining company.

Bitmain is a Beijing-based company that has been dominating the industry by significantly lowering prices of its products, including ASIC miner 'Antminer S9'.

Industry sources say Samsung Electronics' production volume can fully support the level of supplies demanded by Squire, giving them a competitive edge to beat Bitmain.

Samsung Electronics is going to start manufacturing ASIC chips at a time when wafer process technology developed by GAONCHIPS is accepted.

By Jang Sung-yoon reporter jsy33@g-enews.com

http://news.g-enews.com/ko-kr/news/article/news_all/201809270853532765fd4d2b07dc_1/article.html?md=20180927085945_R