Samsung to Develop ASIC Chips for Halong Mining

There was no official confirmation from the South Korean company, however, one of the Halong Mining distributors made such a statement
12 April 2018   1453

As it became known, ASIC-chips for bitcoin-miners of Halong Mining company are made by the technological giant Samsung. There was no official confirmation from the South Korean company, however, one of the Halong Mining distributors made such a statement, CCN reported.

Online retailer MyRig posted on Twitter an image in which a company representative holds a plate of semiconductor material that is used to produce integrated circuits.

MyRig Tweet
MyRig Tweet

It has became known that Samsung starts ASIC chips production in January, but it wasn't reported for who. The only mention was an unnamed Chinese company for the production of equipment for mining, and it was China that was supposed to become the first market for the company to enter before a broader international presence.

Despite the fact that Halon Mining itself is still very little known, the DragonMint T1 produced by it is allegedly the most effective miner in the market to date, superior even to Antminer S9 from Bitmain.

Moreover, in March, Slush Pool confirmed that one of the pool members extracted the block with the help of the Halong Mining Miner, whose effectiveness is achieved through a technological upgrade called overt AsicBoost.

Slush Pool Tweet
Slush Pool Tweet

Halong Mining has its own well-known critic - co-founder Bitcoin.org and Bitcointalk Cobra. According to his repeated statements, Halong Mining are scammers, DragonMint T1 is a fiction, and Innosilicon is actually manufacturing devices.

Cobra Tweet
Cobra Tweet

The first time Halong Mining equipment was presented in November last year. Then it became known that one of Bitcoin Core BtcDrak developer is connected with the project.

Bear Market to Hit Mining Hard

BitMEX research division presented an analysis of the impact of market decline on the mining industry
11 December 2018   166

The cryptocurrency market has experienced a marked decline over the past weeks. The BitMEX research division presented an analysis of the impact of these events on the mining industry. Bitcoin hash rate has fallen by 31% since the beginning of November, which is equivalent to the capacity of 1.3 million Bitmain S9 devices. From this, BitMEX concludes that miners as a class are in a difficult situation, however, they may have different conditions, and those who pay more for electricity, are forced to turn off their equipment first, while others may still be quite viable.

The decrease in the price of Bitcoin by 45% since the beginning of November has already caused two recalculations of the complexity of mining to the lower side - by 7.4% and 15.1% on November 16 and December 3, respectively. The first recalculation turned out to be the largest since January 2013, the second - since October 2011.

Bitcoin mining revenue fell from $ 13 million per day in early November to $ 6 million per day in early December. The fall in the size of the miner's encouragement turned out to be even more rapid than the fall in the price of cryptocurrency. This is due to the delay in recalculating the complexity of mining. For the six-day period ending December 3, 21.8% fewer blocks were mined than expected, since the miners left the network before recalculating the difficulty. As a result, in addition to reducing the size of the miners' encouragement in dollar terms, due to lower asset prices, they received 21.8% less bitcoin awards.

One of the popular reasons for the recent decline in the cryptocurrency market is that miners sold bitcoins to cover their costs of hash warsin the Bitcoin Cash network. The monitoring platform Boltzmann recorded an unusually large sale of Bitcoin by the miner on November 12, that is, 3 days before the hard fork of Bitcoin Cash.

BitMEX assumes that the actions of miners over the past weeks could have played a significant role in reducing the market, however, recommends not overestimating their value and reminds that in a bearish trend, prices continue to fall regardless of asset movements and news.