High-tech giant Samsung Said We are currently working on a new 3 nanometer (nm) mining chip that is 45% more energy efficient.
The new chip is estimated to perform 23% higher and is expected to significantly reduce carbon emissions in the mining industry.
The company began developing chips in late 2021 with the support of various subsidiaries such as Ansys, Cadence, Siemens and Synopsys. Samsung also said that the 2nm chip will be released by 2025 while announcing the 3nm chip.
Dr. Siyoung Choi, president of Samsung’s foundry business, mentioned both chips and said:
“We continue to innovate aggressively in competitive technology development and build processes that help accelerate technology maturity.”
One of the first mining hardware manufactured in 2013, the Antminer S1 Had 55nm chip. Currently, the best mining equipment on the market is the Antminer S19X with a 5nm chip manufactured in 2022.
Cryptographic Samsung
Samsung has been interested in cryptocurrencies and blockchain since 2018. Initially, the technology giant considered blockchain technology to integrate into the system to solve operational problems.
After that, we integrated the blockchain infrastructure into smartphones. Galaxy model smartphones with Ethereum integration and TRON blockchain integration were widely announced in 2019. In 2020, I took on the job of undertaking one of the IPOs of South Korea’s largest cryptocurrency exchange.
In recent years, Samsung has also entered the NFT and Metaverse. At the beginning of 2022, Samsung announced the release of a new TV that allows users to trade NFTs. At the same time, the company also opened a store in Decentraland Metaverse.
The tech giant announced its entry into the mining space as early as 2019 when it announced that it had begun designing and manufacturing mining chips. The company announced that it would release 5nm and 3nm chips at the time. But it came out with 3nm and 2nm chips.
Mining energy problems
The mining industry is facing new problems every day due to the energy consumption of the mining industry.
As soon as Bitcoin’s price fell below $ 20,000, all mining equipment produced before 2019 lost profitability. Specifically, all mining chips above 7 nm could not supplement the energy consumed for mining.
This shows its effect in a larger scheme when the news that the mining giant is struggling hits the headline. Core Scientific and Compass Mining are just two examples of many mining companies that had to sell out their Bitcoin holdings to pay for electricity.
Moreover, if countries suitable for the mining industry begin to abandon cryptocurrency miners one by one. Both Kazakhstan and Sweden were very embraced by miners. However, they decided to stop mining operations in their area due to lack of electricity.
