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Samsung Reportedly Developing ASIC Chips for Halong’s Bitcoin Miners

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Samsung Reportedly Developing ASIC Chips for Halong’s Bitcoin Miners

Bitmain, the world’s biggest ASIC crypto mining hardware manufacturer, might be in for some serious competition in the shape of Halong Mining if the tweet from an online mining rig retailer is to be believed. MyRig, an online mining rig retailer tweeted a photo of a thin slice of semiconductor material called a wafer.

According to MyRig, the 10-nanometer wafer is being produced by Samsung to fabricate Application-Specific Integrated Circuits (ASICs) for Halong Mining. In January 2018, MyRig and Halong signed a collaborative partnership.

The Halong–Samsung Collaboration Could Challenge the Status Quo

In February 2018, BTCManager reported that Samsung was developing bitcoin mining hardware. The only real nuggets of information released at the time were that the mining company was based in China and that Samsung was getting ready to scale up its production to meet the potential market demand once the product was released into the market.

If the story from MyRig is to be believed, then Halong Mining is the mysterious mining company that is in partnership with Samsung. With the technical backing of Samsung, it is probably not beyond the realms of possibility to think that Halong might be able to challenge the market dominance of Bitmain.

The world leading ASIC manufacturer, Bitmain, currently controls 70 percent of the market for bitcoin mining rigs. The company has also taken steps to establish its dominance on other blockchains that have proven difficult for ASIC mining in the past.

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There is not any external confirmation as to the veracity of the story as has been pointed out by some on Twitter.

Halong Mining is for all intents and purposes still regarded as an upstart in the bitcoin scene. Not much is known the exploits of the company so far. Its flagship mining hardware, the Dragonmint T1 was announced in 2017, but the company has only begun shipping the units to its customers. BTCDrak, a Bitcoin Core developer, is reported to be involved in an unknown capacity with Halong Mining.

The Most Efficient Miner on the Planet?

The Dragonmint T1 is reputed to be the most efficient bitcoin miner on the planet, beating even the Bitmain Antminer S9 which many experts agree is the most powerful bitcoin miner. The superiority in performance of the Dragonmint T1 over the Antminer S9 was corroborated by Slush Pool when it announced that a bitcoin transaction block had been mined using the Halong Mining hardware.

Not everyone is completely sold on Halong’s exploits as they were called out as being a ‘scam’ by co-owner of bitcoin.org. He could have vested interest in trying to besmirch upon a project like Halong. Also, many people have taken to Twitter to post unboxing videos and pictures of their newly shipped Dragonmint T1.

Part of the accusation from Cobra stemmed from the fact that Halong was yet to ship the mining units to customers. Cobra has offered no retraction of the tweet mentioned above in the aftermath of Halong initiating shipping of the units to its customers.

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