Samsung signs a deal for chip supplement with Russian Bitcoin Farm

The rise of Cryptocurrency and the blockchain technology is becoming a new opportunity for semiconductor players like Samsung or TSMC.

According to the industry source from Seoul, Samsung Electronics recently signed an agreement with Russian cryptocurrency mining player called Baikal to supply a 14nm ASIC chip. The sample including beta test have already finished and now on the way of shipping to the client side from mid January. Baikal shall use Samsung Electronics chip with a newly updated Bitcoin mining hardware.

As Korea is becoming one of the most hot market for cryptocurrency exchange market. the tech side of this country is now focusing on the opportunity by and with this cryptocurrency ecosystem.

According to Korean government officials,

“Samsung Electronics has traded with Tier1 partners over a certain level like Apple and Qualcomm. But this deal was diagnosed as dealing with a slightly surprising Tier 3 level Russian anonymous maker. Therefore, I anticipated that this trade authenticity will look at some.”

Today BitMain is leading the world mining hardware business with a market share of up to 70%. Every day I pay 44 million won (40, 696 US dollars) electricity fee. GMO, a Japanese internet company, plans to produce 7 nm ASIC chips.