- Samsung starts producing 3-nm chips, which will be 45% more energy-efficient.
- The new chips are predicted to increase by 23%.
The technology powerhouse Samsung announced at end of June, that they started creating new 3-nanometer (nm) mining chips that will use 45% less energy. While announcing the 3nm chip, Samsung also stated that 2nm chips would be available by 2025.
With support from its numerous companies, including Ansys, Cadence, Siemens, and Synopsys, Samsung began developing the chips in late 2021. The performance of the new chips is predicted to increase by 23%, and they are anticipated to greatly lower carbon emissions in the mining sector.
Dr. Siyoung Choi, President of Foundry Group at Samsung, stated
We will continue active innovation in competitive technology development and build processes that help expedite achieving maturity of technology.
Since 2018, Samsung has shown interest in cryptocurrencies and blockchain, in 2019, it received a lot of attention for its Galaxy model smartphones with TRON blockchain integration and Ethereum integration. It agreed to underwrite the IPO of one of Korea’s largest cryptocurrency exchanges in 2020.
Mining Process Facing Trouble
At the end of the first quarter, the energy used by the Bitcoin network was 25% lower than it was a year earlier. This process will stay until Bitcoin’s value rises to a level that makes it worthwhile for new miners to join the network. More particularly, all mining chips larger than 7nm were unable to offset the energy they used during mining.
Given the present Bear Market, miners are already disconnecting equipment more frequently. Apart from this, some mining companies are even required to sell a sizeable amount of their Bitcoin stock to settle their debts, and loans worth more than $4 billion are still in trouble in the industry.
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