• Samsung to return a portion of the microchips market occupied by China to the U.S.
• China’s duopoly is coming to an end.
• Demand for Bitcoin mining chips rises.
According to Bloomberg, Samsung is contemplating on expending over $10 billion to capitalize a Bitcoin mining chip plant located in Austin Texas. Bloomberg’s sources reported that the world’s biggest technology company and phone producer intends to have a facility capable of producing 3nm microchips in years to come.
The actual amount Samsung will eventually spend may change, but the company is striving to return a number of microchip manufacturing market portions that are presently being dominated by the Asian market to the United States.
Good News for BTC mining companies
Nick Hansen, the Chief Executive Officer of BTC mining firm located in Seattle disclosed that the BTC mining companies have been eagerly awaiting when a microchip establishment situated in the United States will rapidly affect a power change between the East and the West. Hansen made this statement while speaking with Coindesk with a message.
Bitcoin mining Chips is vital for BTC Company’s growth
This, in years to come, could have favorable consequences on the supply chain strains experienced by BTC mining machine producers who usually strive to get an unswerving and efficient amount of Bitcoin mining chips from institutions. Hansen further stated that getting a regular supply of Bitcoin mining machines is essential for the progress of the company. He also stated that it will get rid of the long time duopoly in China which has several negative tendencies. Even as of now, China’s spot as the country that has mined the most BTC is being contended over. Wayne Zao said there was a time China had about 80% of BTC miners in the world but they have just 50% currently.
Some big guns in the technology industry such as Nvidia and Apple will deal with fierce rivalry for these microchips as most institutions will make them a lesser option. In the midst of BTC price hike, lots of players entering the market, higher demand on Bitcoin mining chips, and companies going out of stock on their Bitcoin mining gears, Samsung is intending to invest $116 Billion into its Bitcoin mining chips design in the next ten years with the intention of becoming the leading producer.