Samsung, one of the largest companies in South Korea, has delved into the crypto world by manufacturing ASIC mining chips. They are in production for Bitcoin mining equipment. Samsung has joined forces with China to manufacture mining equipment and have already developed ASIC mining chips. They are looking to provide these products as a priority to the Chinese market before any other market. In the long run, Samsung is looking to penetrate other Asian crypto heavy markets such as, South Korea and Japan. So far, Samsung is not sure how the revenues and profits will be but for now they will be targeting the Chinese markets. In the future, Samsung will also be manufacturing GPU miners for smaller digital assets. Samsung has large manufacturing factories that are capable of processing large orders. In the last year, even Apple has needed Samsung’s products for their new iPhone X. The iPhone X uses OLED screens, which only Samsung can provide to them, therefore Apple has spent billions of dollars on Samsung’s services. Another company that comes close for bitcoin mining equipment, is Taiwanese company TSMC and its partner company Bitmain. Samsung will definitely be a huge competitor to TSMC and Bitmain.
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