Samsung working on 3nm chips for Bitcoin miners

Samsung, a South Korean electronic giant hinted at the product back during Q1 of 2022 and is working on 3nm chips that can also be further utilized for Bitcoin Mining activities.

While these 3nm chips are only compatible with Application Specific Integrated Circuits (ASICs), these machines are known to be effective for Bitcoin mining, while the trials are still underway, as suggested by various sources.

With Samsung now manufacturing the 3nm minings chips, it’s predicted that they will be solving some of the existing Bitcoin mining-related issues, by reducing the power consumption by about 30%, furthermore, the chips can supposedly increase the mining speed by 15% and are also having a 30% more translator density.

Recently the company has secured its first customer, a Chinese ASIC firm Pansemi. Furthermore, US-based Qualcomm (NASDAQ: QCOM) has also secured spots for the chips, according to sources.

Qualcomm is one of Samsung’s largest biggest customers, which already had orders placed for the 4nm chips, although it was later canceled due to the lack of production from Samsung, thus the firm has agreed to manufacture the 3nm chips whenever Qualcomm needs it.

Samsung’s newest 3nm initiative is based on the company’s Gate All Around (GAAFET) technology, which differs from the traditional FinFET process that was earlier used to create the 7nm and 5nm chips. While looking at the complete scenario, GAAFET technology reduces the silicon size thus resulting in better performance. The chip trial will allow more space for improvements and mass production of the new chip.

Essentially, the possible introduction of 3nm chips in the market will strengthen and further boost the Bitcoin’s ASIC industry and the hash rate of the cryptocurrency.

In recent months the Bitcoin Network’s hashrate has increased at a decent rate despite the recent price corrections in the market, with hash rates marking an all-time high in May with 220 EH/s and thus stabilizing at 215 EH/s in June.

The space is already facing a lot of competition, and with the entry of Samsung it has increased, as more and more innovative products are being launched by these major technology players in the space.

Recently Intel came up and announced the launch of Blockscale, dubbed as their cryptocurrency mining chip, and the company assures of a more energy-efficient SHA256 hashing while mining.

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