Samsung Unveils New Mining Chip That Is 45% More Efficient

Samsung unveils new mining chip for crypto that is 45% more power efficient than the previous generation.

Samsung, the famous tech giant, has announced that the new 3-nanometer (nm) chips are estimated to have approximately 23% higher performance overall and are expected to reduce carbon emissions, something which has plagued the mining industry for years.

The first generation 3nm chips will also reduce area size by 16%. In other news Samsung unveils a new mining chip’s next-generation iteration i.e the second generation 3nnm technology that may decrease power consumption by 50%, increase performance as high as 30%, and minimize area by 35 percent.

The company started working on the chips by the end of 2021 in collaboration with its numerous subsidiaries like Ansys, Siemens, Cadence, and Synopsis. Samsung also said that their 2-nanometer (nm) chips will be released as early as 2025.

Samsung’s President of Foundry Business, Dr. Siyoung Choi, in a statement about both types of chips, said:

Samsung has grown rapidly as we continue to demonstrate leadership in applying next-generation technologies to manufacturing… We aim to continue this leadership with the world’s first 3 nm process with the MBCFET.

These types of 3nm chips are compatible with specific integrated circuits (ASICs) machines, which are known to be very efficient in mining Bitcoin.

Samsung already has customers

Reports have surfaced that Samsung may already have its first customer lined up. It is reported that the Chinese ASIC manufacturer PanSemi, which designs ASICs that are used for Bitcoin mining, is very interested in Samsung’s new technology development.

Qualcomm, another Samsung customer and one of their biggest clients, has also expressed interest in the 3nm mining chip and has gone as far as reserving an unspecified number of chips, with both companies agreeing that Qualcomm can opt-in at any time, but it is not required contractually do to so if it so chooses.

Correlation to Bitcoin mining

As stated previously the Samsung 3nm mining chip could possibly bolster Bitcoin’s ASIC industry, as well as the overall SHA256 hash rate, because of its high compatibility with ASIC machines. The hash rate on Bitcoin’s network has been rising in the past few months despite the significant cryptocurrency market price correction.

Samsung’s entry into Bitcoin mining has signaled that the market is becoming quite competitive, which is always a plus for end-users and tech innovation.

Speaking of Bitcoin, read more about the latest development of the crypto coin in our Bitcoin news section.