Samsung is Developing ASIC Chips for Halong Mining, Distributor Claims

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Samsung is producing ASIC chips for upstart mining hardware manufacturer Halong Mining, at least according to one mining rig distributor.

On Tuesday, online mining rig retailer MyRig tweeted a picture of a wafer, a thin slice of semiconductor material used in the fabrication of integrated circuits. The company claimed that it was a 10 nm wafer produced by electronics giant Samsung.

As CCN reported, Samsung began producing Application Specific Integrated Circuit (ASIC) chips built for Bitcoin mining last year, chips which it supplied to an unnamed company. At the time, Samsung was tight-lipped about the identity of that company, confirming only that it was based out of China.

Little is known about Halong, whose first miner — the Dragonmint T1 — was announced last year and only recently began shipping to customers. Bitcoin Core developer BTCDrak is involved with Halong Mining in some capacity, though it is unclear exactly how he is connected to the project.

At present, the DragonMint T1 is the most efficient miner on the market, surpassing even Bitmain’s Antminer S9 in performance. In March, Slush Pool confirmed that someone in its mining pool had mined a block using Halong hardware, which achieves its superior efficiency through a technological upgrade called overt AsicBoost.

Despite these endorsements, Cobra-Bitcoin — who co-owns Bitcoin.org and BitcoinTalk — has repeatedly said that he believes Halong Mining is a scam and that the Dragonmint T1 is really just a rebranded device actually manufactured by Innosilicon. Cobra has also refused to walk back these accusations now that the company has begun shipping miners to customers.

Nevertheless, if Samsung is supplying chips to Halong, it could go a long way toward helping the upstart firm chip away at Bitmain’s dominance in the ASIC market, as Samsung has the ability to scale up its ASIC chip production quite easily to accommodate consumer demand.

Featured image from Shutterstock.

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Josiah is an assistant editor at CCN. A former ancient and medieval literature teacher, he has been reporting on cryptocurrency since 2014. He lives in rural North Carolina with his wife and children. He holds investment positions in bitcoin and other large-cap cryptocurrencies. Follow him on Twitter @Y3llowb1ackbird or email him directly at josiah.wilmoth(at)ccn.com.