• 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 expending over $10 billion to capitalize on 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 the BTC mining firm located in Seattle disclosed that the BTC mining companies have been eagerly awaiting a microchip establishment situated in the United States that will rapidly effect a power change between the East and the West. Hansen made this statement while speaking with Coindesk.
Bitcoin mining Chips are vital for BTC Company’s growth
This, 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 with the most mined BTC is being contended. Wayne Zao said there was a time China had about 80 percent of BTC miners in the world but now have only 50 percent.
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. This is all occurring amidst a BTC price hike, increased players in 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 10 years with the intention of becoming the leading producer.