Surprise: Samsung attacks the Bitcoin mining market

The hype surrounding Bitcoin and other cryptocoins is still great. While governments and agencies are busy adjusting to legislation and taking measures, it is clear that there will be no end to it for the time being. Miners minen nice through. To create new Bitcoins and complete transactions, complex mathematical calculations have to be performed. Samsung will benefit from this.

Samsung gets into the Bitcoin mines
That costs a lot of computer power. More and more. As a result, the last coin will only be mined around 2170, as expected. So hardware is needed to mince new coins. Then we are talking about video cards, which were previously mainly bought by gamers. Logical, because that is what they are meant for.

Do you want to build a new game computer? Then we have bad news for you: the cards are not only incredibly hard to get, but also become very expensive. Large Bitcoin miners immediately buy new loads of dozens at a time. Too bad for gamers, but for hardware manufacturers it is a huge market that can be operated.

It seems that Samsung wants to take advantage of the blockchain hype. According to insiders, the Korean tech giant has begun manufacturing ASIC hardware. These are chips that are specially designed to minimize bitcoin and other cryptocoins as efficiently as possible.

The usually reliable publication The Bell came earlier this week with this news. According to the Korean publication, Samsung has signed a deal with a major Chinese manufacturer of mining hardware. So Samsung does what it does for many smart phone manufacturers: providing components for products from other companies.

Legitimization of an industry
Reportedly mass production will start at the end of January. It seems to be a surprising move, but the manufacturer has already shown interest in the market. Last October Samsung stunted with a mining setup consisting of forty old Galaxy S5's. The following months rumors surfaced that the manufacturer was talking to Bitcoin hardware suppliers.

Is this good news for desperate gamers looking for a video card? No, not directly. Samsung focuses on another component of mining hardware, so for now the hunt for video cards continues. Indirectly, it offers the entire mining market a basis. Moreover, it will make the hardware better and cheaper in the long term. After all, competition leads to a healthier market.

The hype grows into a big industry. Samsung is the biggest chipmaker of the moment, so this logical step says a lot about the (near) future. But does Bitcoin still have a future as a means of payment?