Mining Hardware Store to Open in South Africa

Bitcoin hardware stores are popping up all over the world and now one of them will open its doors in South Africa
08 February 2018   533

A supplier of Bitcoin mining hardware from South Africa, Bitmart, is about to open its first retail store. The store will stock software components, ASICs, GPU miners and other relevant hardware. It will also stock cryptocurrency merchandise such as t-shirts, caps, hardware wallets and etc. Now miners in South Africa can just walk into a shop and pay on the spot.

This shop is willing to provide educational seminars in order to create a cryptocurrency community. Bitmart will accept EFT (a South African internet banking payment transfer service), credit cards, and, of course, all major cryptocurrencies, such as Bitcoin, Ethereum as a method of payment.

Bitmart will offer business owners the additional services such as mining farm development, deployment and management, container-based mining solutions, and large-scale deployment. It will also install equipment in place to accept Bitcoin as payment.

It is important to note that South Africa is not the only place where users can buy equipment for mining. For example, a large electronics mall in Singapore has at least five mining hardware shops.

Samsung Reports Q1 Profit Record due to Mining Chips

Samsung Electronics has reported 58% year-on-year growth in its operating profits for Q1 due to strong demand for chips used for cryptocurrency mining
26 April 2018   126

Samsung Electronics has reported 58% year-on-year growth in its operating profits for Q1 2018 - an increase driven in part by strong demand for cryptocurrency mining chips.

Robert M. Yi, executive vice president of investor relations of Samsung, said on Thursday that the profitability increase seen in the firm's semiconductor business played a significant role in setting a new quarterly operating profit record of 15.6 trillion Korean won ($14 billion).

In the semiconductor business, the earning increases significantly year over year thanks to favorable market conditions driven by strong demands in server and graphic card memories as well as earning improvement in both the System LSI and Foundry businesses led by an increasing demand of chips used in flagship smartphones and cryptocurrency mining.


Robert M. Yi

Executive vice president of investor relations, Samsung

Samsung confirmed at the beginning of the year it is producing 8nm and 11nm processors to meet growing market demand from the cryptocurrency mining industry.

The company forecast that the demand for mining processors will continue to expand in Q2, while the earnings of its LSI and Foundry businesses may decrease due to slowing demand for smartphone components.