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   431

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 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.

South Korea to Toughen Mining Chip Import Rules

Mining chips will have to meet legal requirement for importation, such as safety and sanitation certifications
19 April 2018   118

In South Korea, foreign-made crypto mining chips import rules can be complicated in the near future.

As reported by CoinDesk with reference to the statement of the Korean Customs Service (KCS) the government agency added mining chips to the list of goods that must meet certain criteria established by the current legislation for importation into the country, including certificates of security.

New requirements were introduced after the customs service discovered an increase in the number of mining chips imported into the country. So, in November and December last year, according to KCS, 454 mining chips were imported to the country for a total of 1.3 billion won ($ 1.2 million).

Since the mining devices consume a significant amount of electricity and produce a lot of heat, their operation is associated with an increased risk of fires.

To neutralize these risks, the service will monitor the safety of imported devices in accordance with the requirements established by the National Radio Agency.