Report Claims Samsung Is Producing 3nm ASIC Chips — Speculators Assume First Customer Is a Bitcoin Mining Rig Manufacturer

Report Claims Samsung Is Producing 3nm ASIC Chips — Speculators Assume First Customer Is a Bitcoin Mining Rig Manufacturer

The electronics giant and largest corporation in South Korea, Samsung, is in the midst of creating 3-nanometer (3nm) semiconductors for a Chinese application-specific IC firm, sources have said. The new chip design has caused speculation among the crypto community that it’s possible Samsung may be creating application-specific integrated circuits (ASICs) for bitcoin miners. Sources Say Samsung to Start 3nm Process This Week, Crypto Community Believes Chinese IC Firm May Be a Bitcoin Mining Rig Maker There is speculation that Samsung is creating ASICs for bitcoin mining and the BTC mining rig manufacturer Microbt may be a future customer. The sources stem from thelec.net publication which explains that the electronics company aims to trial the foundry production of the 3nm chips this week. Other reports have noted that Samsung hinted about the new chips in a 2022 earnings call. The company has also been involved in non-fungible token (NFT) assets this year and introduced smart televisions that support NFT infrastructure. The report stemming from thelec.net notes that an unnamed Chinese company focused on ASICs will be Samsung’s first 3nm chip customer but Qualcomm has also “made reservations for the process.” Rumors about Samsung creating 3nm chips specifically for bitcoin mining have spread like wildfire on social media. If Samsung is creating ASICs for bitcoin mining it will follow the lead of a couple of competitors like Intel and TSMC. Taiwan Semiconductor Manufacturing Company (TSMC) has been producing ASICs crypto miners can use for years, and Intel just recently jumped into creating semiconductors for bitcoin mining this year. The Samsung speculation concerning the company building bitcoin-friendly ASICs has been published by a number of crypto news publications, and the original source thelec.net, cites people familiar with the matter. It’s possible that Samsung has already been creating bitcoin-friendly ASICs without anyone knowing about the production. For instance, while TSMC has supplied chips to companies like Bitmain, the Taiwan firm doesn’t formally announce these products. Local reports from South Korea in January 2018 say that Samsung was already working with a Chinese company by creating ASIC chips for mining digital currencies. “Samsung is operating a foundry that supplies a Chinese cryptocurrency mining firm with mining equipment and ASIC chips. Since Samsung has just begun its cryptocurrency mining venture, it is unsure of the revenues it can generate from it,” the local media reported at the time. Tags in this story ASIC, ASICs, Bitcoin Miners, Bitmain, BTC, BTC Mining, Chinese IC firm, chips, electronics giant, IC firm, Intel, Microbt, mining rigs, NFT smart television, NFT TV, NFTs, Non-fungible tokens, Qualcomm, Reports, Samsung 3nm, Samsung 3nm Miners, Semiconductors, sources, Speculation, TSMC

What do you think about the sources that say Samsung is creating 3nm ASIC chips? Do you think the electronics giant may be creating bitcoin mining chips? Let us know what you think about this subject in the comments section below. Jamie Redman

Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Onecoin"s Co-Founder Ruja Ignatova Has Been Added to the FBI"s 10 Most Wanted Fugitives List NEWS | 2 hours ago Rap Star Snoop Dogg Believes Crypto Industry Will Bounce Back — Crash "Weeded’ Out Bad Apples NEWS | 4 hours ago

Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: JPstock Previous articleProject Kick-Off: STRMNFT Marketplace Hits 5,000 Registered Users Next articleRap Star Snoop Dogg Believes Crypto Industry Will Bounce Back — Crash ‘Weeded’ Out Bad Apples Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article. Read disclaimerShow comments More Popular NewsIn Case You Missed ItFidelity Investments Launches Crypto, Metaverse ETFs — Says "We Continue to See Demand"

Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.Bitcoin ATM Operator Indicted in New York Allegedly Running Illegal Business Attracting Criminals Bill ‘On Digital Currency’ Caps Crypto Investments for Russians, Opens Door for Payments Australia to List Bitcoin ETF After 4 Clearinghouse Participants Commit to Meet Stringent Margin Terms Microbt Reveals Latest Bitcoin Mining Rigs — Machines Produce up to 126 TH/s With Custom 5nm Chip Design