Korean electronics giant Samsung is the latest chip manufacturer to enter the bitcoin mining hardware market. The companys foundry has reportedly already began producing ASIC chips for a Chinese client earlier this month.
News:
https://news.bitcoin.com/samsung-enters-bitcoin-mining-asic-manufacturing-business/Do you think now that there is more competition: bitcoin mining equipment will become cheaper?
What impact will this have?
It will not have any significant impact to the current price of bitcoin mining gear. It says that Samsung will just manufacture it for a Chinese client (I'm assuming its Bitmain). On the contrary, the price will be more expensive because its already outsourced outside of China.
Let's see how GMO reacts though. I understand that they are building their own mining hardware to compete with Bitmain but it will probably take a year to mass produce it. Unfortunately, we are still at the mercy of Jihan and his company.