{"id":22278,"date":"2018-04-13T00:57:56","date_gmt":"2018-04-13T00:57:56","guid":{"rendered":"http:\/\/ci027cfe6f801026c3"},"modified":"2018-04-13T00:57:56","modified_gmt":"2018-04-13T00:57:56","slug":"samsung-building-asic-chips-halong-mining","status":"publish","type":"post","link":"https:\/\/bitcoinmagazine.com\/business\/samsung-building-asic-chips-halong-mining","title":{"rendered":"Samsung Is Building ASIC Chips for Halong Mining"},"content":{"rendered":"
<\/div>
<\/figure>\n

Seoul-based multinational conglomerate Samsung has confirmed that it is providing ASIC chips to mine bitcoin, ether and assorted cryptocurrencies for hardware manufacturer Halong Mining.<\/p>\n

Prior to entering the mining space, Samsung was producing<\/a> \u201chigh-capacity memory chips\u201d for GPUs, which are predominantly used to handle computer graphics but also possess mining capabilities. Its partnership with Halong is expected to bring heavy competition to the ASIC industry, primarily to China\u2019s Bitmain, which, up to this point, has largely dominated the chip-development arena. Both companies work with Taiwanese giant TSMC, which has seen quarterly revenue increases of $350 to $400 million, thanks to ongoing developments in cryptocurrency.<\/p>\n

Reports regarding the association between the companies date as far back as January 2018, when it was suggested that Samsung was working with an \u201cunnamed\u201d Chinese mining company. Rumors became a reality on April 10 when online mining rig retailer MyRig posted a picture on its Twitter<\/a> page of a thin slice of semiconductor material known as a \u201cwafer.\u201d The company wrote that the item was being used in the \u201cfabrication of integrated circuits\u201d and that it had been produced by electronics giant Samsung.<\/p>\n

Halong Mining has remained relatively quiet regarding its new relationship, though its first miner, the Dragonmint T1, is now available for purchase<\/a>. The item is believed to stand among the world\u2019s most efficient miners, purportedly beating out Antminer S9 by Bitmain in terms of performance.<\/p>\n

Slush Pool also confirmed last March that someone in its mining network had mined coins using Halong software and that its overall efficiency could be attributed to an upgrade known as \u201cAsicBoost,\u201d which was developed in 2016<\/a> by former CoinTerra CTO Timo Hanke.<\/p>\n

The technology works by exploiting a portion of Bitcoin\u2019s proof-of-work algorithm by allowing miners to take \u201cshortcuts\u201d to find new blocks. This technology is equally available to multiple mining companies thanks to Halong\u2019s membership with the Blockchain Defensive Patent License<\/a> (BDPL), which is designed to keep competition levels in the cryptocurrency mining space fair and accurate, but so far, only Halong Mining is known to be using the overt variant of AsicBoost.<\/p>\n

The DragonMint T1 was produced by BtcDrak<\/a>, who\u2019s been involved with Halong Mining since it began. The developer also maintains bitcoincore.org and the Bitcoin Core Community Slack.<\/p>\n

\u201cWe started a mining project with the aim to bring much needed competition to the market,\u201d he states. \u201cWe want to \u2018make SHA256 great again.\u2019\u201d<\/p>\n

BtcDrak also says that the DragonMint T1 is the most \u201cadvanced miner to date,\u201d claiming it is about \u201c30 percent more energy efficient\u201d than the AntMiner S9 and that it could produce a total of \u201c16 tera hashes per second.\u201d<\/p>\n

Samsung also worked with Hangzhou-based<\/a> company Ebang last year to develop DW1228 chips for its new bitcoin mining<\/a> machines the Ebit E9++ and the E10. The chips were slated to boost an E10 hash rate to 18TH\/S. The machines were first released in early February and units sold out almost immediately.<\/p>\n","protected":false},"excerpt":{"rendered":"

Seoul-based Samsung has confirmed that it is providing ASIC chips to mine bitcoin, ether and assorted cryptocurrencies for hardware manufacturer Halong Mining.<\/p>\n","protected":false},"author":3479,"featured_media":22279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[464,197,3491,3369,3506,3226,656,1735],"class_list":{"0":"post-22278","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-business","8":"tag-asics","9":"tag-bitmain","10":"tag-dragonmint","11":"tag-ebang","12":"tag-halong-mining","13":"tag-manufacturers","14":"tag-mining-chips","15":"tag-samsung"},"author_data":{"id":3479,"name":"Nick Marinoff","nicename":"nick-marinoff","avatar_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/12\/cropped-bitcoin-schmitcoin-promo-image-1-2-96x96.png"},"featured_image_url":"https:\/\/bitcoinmagazine.com\/wp-content\/uploads\/2024\/11\/samsung-is-building-asic-chips-for-halong-mining.jpg","_links":{"self":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/22278","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/users\/3479"}],"replies":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/comments?post=22278"}],"version-history":[{"count":0,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/posts\/22278\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media\/22279"}],"wp:attachment":[{"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/media?parent=22278"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/categories?post=22278"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/bitcoinmagazine.com\/wp-json\/wp\/v2\/tags?post=22278"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}