Bitmain has dominated the crypto-mining market with an iron fist, facing little competition outside of traditional GPU manufacturers like AMD and Nvidia. However, Bitmain may soon be facing stiff competition from an upstart mining manufacturer due to a potential partnership with Samsung.
In January, it was reported that Samsung would begin manufacturing ASIC chips and enter the fast-growing crypto-mining space after the explosive demand created by Bitcoin’s rise in late 2017. Samsung did not expand on who they were supplying chips to, only that one such company was based in China.
According to a tweet from a Halong Mining distributor, MyRig, the upstart mining hardware manufacturer is sourcing their ASIC chips from Samsung, giving the newcomer significant legitimacy if true.
In the tweet from MyRig, a picture of a man holding a 10nm semiconductor wafer accompanies a claim that the wafer is produced by Samsung and it is powering Halong Mining’s DragonMint T1. DragonMint T1 is called “the most efficient” miner on the market, beating their top competitor Bitmain’s Antminer S9 in performance.
Buyer beware, though, at the time of this writing, Samsung has not confirmed developing chips for Halong, nor has Halong Mining confirmed or denied the claims. In addition, CobraBitcoin, who co-owns bitcoin.org and bitcointalk.org, has publicly denounced Halong Mining as a scam, claiming that Halong’s Dragonmint T1 is nothing more than a repackaged miner designed by Innosilicon.