On June 30, Samsung announced that the firm is about to launch a new generation of Bitcoin mining chips that are expected to “reform the chip industry”. Accordingly, the new chip will be only 3nm in size, capable of consuming extremely low electrical energy, saving up to 30% of power, increasing mining speed by 15% along with 33% higher encryption efficiency.
Samsung also revealed that even though has not been officially launched, the new chip already has its first customers, with prominent names like PanSemi, a Chinese ASIC unit, and Qualcomm. The giant software company requested a 4nm chip, however, this order was canceled due to Samsung’s inability to meet the request.
Notably, the 3nm chip is aimed to strengthen the Bitcoin mining industry with an overall SHA256 hashrate. The chip is based on Gate All Around (GAAFET) technology, which is different from the usual FinFET used to make 7nm and 5nm chips. Generally, GAAFET reduces the silicon size to bring better performance. The testing process has achieved considerable good results and is ready for mass production.
Hashrate on the Bitcoin network has increased in recent months despite the significant volatility of the cryptocurrency market. According to Finbold, the hashrate stabilized in June at around 215 EH/s after hitting a record high of 220 EH/s in May.
Samsung is not the first firm to enter the Bitcoin mining field. Previously, Intel also launched the new generation Bitcoin mining chip called “Intel Blockscale ASIC”, focusing on environmental sustainability. According to Intel, each chip can be combined into a single mining unit, increasing the maximum number of 256 integrated chips per chain.
Since the beginning of 2022, Samsung has been continuously showing its determination with the cryptocurrency market by stepping into various fields from Web3 to NFT and Metaverse. Firstly is building a virtual store in Decentraland (MANA), which has become one of the main promotional places for the recent Galaxy S22 launch event; next is the partnership with Nifty Gateway to develop the industry’s first smart NFT TV platform; and many other activities like launching the Discord channel focusing on Web3, and the release of the Samsung Wallet application, which is claimed to contain everything necessary for digital life.
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