Seoul Mayor Announces $53.39 Million Fund for Blockchain Districts

A South Koran politician has committed a $53.39 million fund to develop blockchain regions in Seoul, local media reported. Park Won-soon, who is the mayor of the South Korean capital city, said their government would create two business complexes to settle 200 blockchain-related companies by 2021. The districts would also serve the purpose of training 730

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Samsung to Manufacture ASIC Chips for Canadian Bitcoin Mining Firm

Squire, a Canada-based crypto mining firm, which raised $19.5 million in August to develop sophisticated mining equipment, has signed a deal with South Korea’s largest conglomerate Samsung to manufacture ASIC chips. The company has partnered with Gaonchips and Samsung Electronics to design and manufacturer new ASIC mining chips, which could allow the company to compete … Continued

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Squire Mining Discloses Next-Generation ASIC Chips Will Be Made by Samsung

Squire Mining Discloses Next-Generation ASIC Chips Will Be Made by Samsung

This week the firm Squire Mining, a company that plans to offer next-generation 10nm ASIC chips, has revealed it is working with Samsung Electronics as its foundry partner. With help from Samsung’s foundry, Squire, and a company called Gaonchips, plan to complete its ASIC chip FPGA prototype by September 30, 2018.

Also read: Ebang Announces 44 Terahash E-11 Miners With 10nm Chips

Squire Mining Announces New ASICs Will Use Samsung Semiconductors

Squire Mining Discloses Next-Generation ASIC Chips Will Be Made by SamsungOn Tuesday the company Squire Mining Ltd., (CSE: SQR), has announced the business partnered with two leading firms from Southeast Asia, Gaonchips and Samsung Electronics. According to the Canada-based Squire, the collaboration will focus on producing next-generation 10nm ASIC chips for bitcoin mining. Gaonchips will be used for Squire’s semiconductor design house and Samsung will manufacture the ASIC chips in Korea.

Squire explains during the firm’s partnership announcement on September 25 stating:  

Our front-end development team of engineers and programmers is currently working with Gaonchips to develop the company’s initial ASIC chip to mine Bitcoin Cash, Bitcoin, and other associated cryptocurrencies using a wafer process technology that, once confirmed and accepted as meeting certain prescribed specifications and criteria, will form the basis of an initial mass production test run of the ASIC chip by Samsung Electronics.

Squire Mining Discloses Next-Generation ASIC Chips Will Be Made by Samsung

Squire Closes $19.5M Private Equity Financing, Alongside a Partnership With Coingeek

Squire has been making a lot of moves within the cryptocurrency industry lately. Back in August Squire closed its non-brokered private placement equity financing of $25,500,000 CAD ($19.5 million USD). During the same week in August, the blockchain company and mining pool Coingeek revealed it was partnering with Squire. Coingeek explained that it would be using Squire’s 10nm chips but would be allowed to use the Coingeek brand. Coingeek explained it would be “granted the exclusive right to market, promote, solicit, sell and distribute Squire’s new ASIC chips and mining rigs” for bitcoin cash (BCH) mining.

Bitcoin Mining Bolsters Samsung and TSMC to Provide the Next Generation Chip Technology

Samsung has been quietly entering the ASIC mining industry with stealth in 2018. It seems Samsung has also allegedly made chips for a few other mining manufacturers this year for mining rig producers like Innosilicon. Halong Miners claimed to use Samsung 10nm chips this year, but the firm has been accused of being a mock-up company who quickly sold a batch of rebranded Innosilicon miners. Still, the Innosilicon T2 and T2 Turbos do have Samsung 10nm chip technology. Furthermore, we reported that Samsung and TSMC would be the lone manufacturers this year because Globalfoundries has canceled the firm’s next-generation 7nm semiconductor production.

Samsung and TSMC have stated record earnings in 2018 have been attributed to ASIC semiconductor manufacturing. Further, a slew of new mining rigs have been announced over the past few weeks like Ebang’s E-11 series with 10nm chips. However, Ebang, Canaan, and a few other manufacturers using 10nm technology have not revealed which foundry their new 10nm architecture derives from. Earlier this week a Bitmain representative told news.Bitcoin.com that the new BM1391 ASIC 7nm chip stemmed from TSMC foundry.

What do you think about Squire’s recent partnership announcement with Samsung and Gaonchips? Let us know what you think about this subject in the comment section below. 


Images via Shutterstock, Samsung, SQR Mining, and Pixabay


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Pangolin Miner Claims 16nm ASIC Miner Will Compete With 7nm Machines

Pangolin Miner Claims 16nm ASIC Miner Will Compete With 7nm Machines

Over the last few weeks, we’ve been reporting on the wide variety of new cryptocurrency miners entering the digital asset economy. Some of these newly created miners are bringing faster processing power and more optimized chips, while others have even built mining rigs that tether to a water-cooling system. Now another new SHA-256 mining rig called the ‘Whatsminer M10’ is joining the competition and the manufacturer claims it will boast speeds of up to 33 trillion hashes per second (TH/s).

Also Read: Bitmain Offers Wi-Fi Routers Mining Cryptocurrencies

Pangolin Miner Begins Selling the 33 Terahash Whatsminer M10

Last January a mining manufacturing company called Pangolin Miner released a SHA256 mining rig called the Whatsminer M3 that processed a maximum hashrate of 12TH/s for a power consumption of 2000W. This summer the company has announced the launch of a new miner called the Whatsminer M10, and according to the specifications, it will compete with GMO Group’s B3 mining rig. Pangolin’s specs for the M10 show the new rig will have a hashrate of around 30-33.5 TH/s and pulls about 2150W from the wall. At the moment Pangolin is selling its first batch for September 20 delivery, and the second batch for November 20.

Pangolin Miner Claims 16nm ASIC Miner Will Compete With 7nm Machines
Pangolin Miners Whatsminer M10.

The M10 Still Uses the Older Generation 16nm Fabrication Process

What is interesting about the M10 is that it doesn’t use 10nm or 7nm chips for its ASIC mining rigs, as the Whatsminer M10 still uses 16nm architecture. The company’s prior model the M3 was the similar as it processed speeds of up to 12TH/s but with 28nm chips. Pangolin has also published a video of the M10 in action, but the machine only processed at 30TH/s. The creators detail the test is “not the final version of the machine.” The video also details the rig has 315 16nm Finfet chips and the M10’s power consumption pulled 2042W off the wall during filming.

“The M10 features a new all in one structure that further enhances computing power and it is also easy to disassemble, which reduce maintenance costs,” says Pangolin. “After sixty minutes of working the background shows a hashrate stabilize at 30TH/s — The Whatsminer M10 has a lot of room for improvement.”

Mining Manufacturers Using 10nm and 7nm Chips Sell Out Quick

The M10 will compete with GMO Group’s B3 (33TH/s), Canaan’s Avalonminer A9 (30TH/s), GMO Group’s B2 (24TH/s) and Innosilicon’s T2 Turbo (24TH/s). Moreover, GMO Group and Canaan Creative use 7nm architecture, while the Innosilicon T2 Turbos use 10nm chips. Now while many of these new machines are super powerful, most of these miners are difficult to acquire. For example, the SHA-256 miners manufactured by Ebang and Halong Miners have been sold out for a long time.

Pangolin Miner Claims 16nm ASIC Miner Will Compete With 7nm Machines

GMO Group’s B2 is also sold out, and customers can only purchase the B3 model right now. In contrast to the lack of accessibility, the Bitmain developed Antminer S9j is only 14.5TH/s, and the machines are always available for purchase. Bitmain also revealed the Antminer Hydro this week that boasts speeds of up to 18 trillion hashes per second (TH/s), but uses a water-cooled system to reduce noise and increase operation life. Like most Bitmain hardware the Hydro is also accessible today, and the rig is available for September delivery today.

16nm ASIC Mining Rigs Are Not Going Away in 2018

Furthermore, manufacturers making SHA-256 mining rigs that bolster 7nm technology may have some difficulties acquiring these semiconductors from the foundries. On August 27 reports detailed that Globalfoundries is shifting its manufacturing strategy and has decided to stop its 7LP (7nm) fabrication processes. Essentially, this means that mining rig manufacturers will have to deal with only one manufacturer TSMC, who was the first foundry to complete 7nm architecture. Samsung has been working on the 10LP (10nm) fabrication process and doesn’t expect to complete the 7nm fabrication until 2019

Pangolin Miner Claims 16nm ASIC Miner Will Compete With 7nm Machines
According to reports, TSMC will be the only foundry producing 7nm chips at the moment.

With only one firm creating 7nm chips it’s likely demand will exceed availability and most giant mining facilities will still be using 16nm machines for quite some time. If the Whatsminer M10 performs at 30-33.5TH/s then older generation chips will still be competitive against machines produced with 10nm and 7nm technology. Moreover, if the M10 produces what the specs claim, then one can assume that newer rigs made with 10nm and 7nm technology could outperform GMO’s latest B3 as well.

What do you think about the Whatsminer M10 and its 16nm technology processing 30TH/s? Let us know what you think about this subject in the comment section below.

Disclaimer: Bitcoin.com does not endorse Pangolin Miners products/services. This article is provided for general informational purposes only. Readers should do their own due diligence before taking any actions related to the mentioned company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.


Images via Shutterstock, Pangolin Miner, and Pixabay. 


At Bitcoin.com there’s a bunch of free helpful services. For instance, have you seen our Tools page? You can even look up the exchange rate for a transaction in the past. Or calculate the value of your current holdings. Or create a paper wallet. And much more.

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Experts: Bitcoin Hashrate Increase Shows Investors are Happy in Long-Term

The hashrate of the Bitcoin network, which represents the amount of computing power securing the blockchain, has continued to increase despite the 70 percent decline of BTC since January of this year. David Sapper, chief operating officer at Australia-based cryptocurrency exchange Blockbid, said in an interview with Bloomberg that the continuous rise in the hashrate … Continued

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Samsung Stores in the Baltic States Now Accept Cryptocurrencies

Samsung Stores in the Baltic States Now Accept Cryptocurrencies

On Friday, Samsung stores in the Baltic States have announced they will be accepting seven different cryptocurrencies for merchandise. Through a partnership with the payment processing firm Coppay, customers shopping at the Samsung stores in Tallinn, Riga, Vilnius, and Kaunas will be able to pay with BTC, ETH, DASH, NEM, STEEM, XRP, and LTC.

Also read: Philippines Embraces Cryptocurrency: Exchanges Issued Provisional Licenses

Samsung Stores in Three Baltic States Accept Cryptocurrencies

Samsung Stores in the Baltic States Now Accept CryptocurrenciesThe platform Coppay is a European fintech firm that offers payment gateways for cryptocurrency paying customers throughout 31 merchant locations. Now the company has announced that Samsung is truly embracing its slogan to “Turn on Future” by accepting seven different cryptocurrencies. The digital currencies the Samsung stores will be accepting for payments include bitcoin core (BTC), dash (DASH), NEM (XEM), steem (STEEM), ripple (XRP), litecoin (LTC), and ethereum (ETH). 

“Customers in Tallinn, Riga, Vilnius, and Kaunas can buy Samsung smartphones, tablets, laptops, TV-sets, and more with digital money,” explains Coppay’s announcement.

There is a growing trend toward business digitalization and allowing customers to pay for goods and services in cryptocurrency, whether at global retailers or local restaurants.       

Samsung Stores in the Baltic States Now Accept Cryptocurrencies
Samsung locations in the Baltic region now accept seven different cryptocurrencies.

Both Samsung and the Baltic Region Are Embracing the Future of Digital Assets

Cryptocurrencies, in particular, have been extremely popular in the Baltic states and digital assets have broad acceptance in states like Estonia, Latvia, and Lithuania. There is a great variety of merchants that accept bitcoin payments for coffee, apartments, bars, restaurants, hotels, specialty shops, clothing stores, and massage parlors. Regulatory policy in the Baltic region barely exists, except for Latvia, which may impose a 20 percent capital gains tax on cryptocurrency exchanges.

Samsung Stores in the Baltic States Now Accept CryptocurrenciesSamsung also has shown interest in blockchain technology and it’s well known the firm creates semiconductors for cryptocurrency mining devices. The company’s earnings had spiked significantly in 2017 due to semiconductor demand tethered to digital asset mining operations. The payment processor Coppay operates similarly to the firm Bitpay’s platform and merchants are allowed to keep the cryptocurrency from sales, exchange it for fiat, or a combination of both. The company explains the other Samsung merchants will also be adding the crypto-payment feature through their system as well.  

What do you think about the Samsung stores in the Baltic region accepting cryptocurrencies? Let us know your thoughts on this subject in the comment section below.   


Images via Pixabay, Samsung store, Samsung, and Coppay logos. 


Do you like to research and read about Bitcoin technology? Check out Bitcoin.com’s Wiki page for an in-depth look at Bitcoin’s innovative technology and interesting history. Bitcoin is a decentralized digital currency that enables near-instant, low-cost payments to anyone, anywhere in the world. Bitcoin uses peer-to-peer technology to operate with no central authority: transaction management and money issuance are carried out collectively by the network. Read all about it at wiki.Bitcoin.com.

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Ledger Sold 1 Million Crypto Hardware Wallets in 2017, Attracts Investors in Samsung and Google

Leading hardware crypto wallet manufacturer and developer Ledger sold more than 1 million hardware wallets in 2017, recording a profit of $29 million. In an interview with Forbes, Ledger president Pascal Gauthier stated that the lack of secure platforms which users can utilize to sign transactions on the immutable public blockchain led the demand for … Continued

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Crypto Floating Island Project Closer to Realization

Crypto Floating Island Project Closer to Realization

Blue Frontiers has signed a much-publicized memorandum of understanding with French Polynesia. The Floating Island Project is exactly as it reads, only it’s to be an independent government complete with its own cryptocurrency. An idea long thought to be a crazy dream of libertarians is now incredibly close to realization.

Also read: Alec Baldwin’s Lambo Movie Backed by Crypto Tech

Crypto Floating Island Project Nearer to a Reality

“A core structural feature of current models of government is centralization,” begins the pitch for an initial coin offering (ICO) pre-sale of Varyon from Blue Frontiers. “Too much centralized authority leads to inefficient bureaucracies and representatives disconnected from the people they are meant to serve. Given a suitable technological solution, governments are ripe for decentralization. That technological solution is seasteading.”

The book Seasteading: How Floating Nations Will Restore the Environment, Enrich the Poor, Cure the Sick, and Liberate Humanity from Politicians (Free Press, 2017) caused an immediate media sensation. Written by Joe Quirk and Patri Friedman, it’s the nonfiction account of what seems at the outset to be a sci-fi idea. Dutifully, legacy outlets treated it that way, at times dismissing seasteading as impractical, the stuff of fantasy.

Crypto Floating Island Project Closer to Realization

“Varyon (VAR),” via the Ethereum chain (1 ETH = 14,750 VAR), ERC-20 token, “is a general purpose payment token for the exchange of goods and services in the Blue Frontiers ecosystem, other ecosystems, and between token holders. Blue Frontiers is planning to use the proceeds of the sale to expand its ecosystem and create Seazones and seasteads, and will only accept Varyon (VAR) for its products and services,” Blue Frontiers claims.

A completely unrelated business proposition put seasteading into perspective. Anglo-Dutch oil and gas concern Shell launched its quarter-century at sea project, Prelude. Assembled in Samsung’s Heavy Industries Geoje shipyard, South Korea, Prelude is Shell’s gamble at taking a refinery to natural gas deposits previously imagined out of reach. Longer than the Empire State Building is tall, Prelude’s hull is among the largest ever built. The enormous project is an inspiring construct, stretching four continents and thousands of people.

Crypto Floating Island Project Closer to Realization

No Longer Just a Dream

Prelude is a floating city, and not in the literary license sense. It doesn’t take long to sympathize with Mr. Quirk’s and Mr. Friedman’s vision, even if it’s covered in petroleum-seeking profits at the moment. A floating island, then, isn’t the wacky concept one might be forgiven for at first highly doubting. Combine that real-world use case with modern cruise ships, perhaps linking them together, and it also isn’t terribly hard to consider a country at sea.

That’s the idea. Members of the Seasteading Institute, which can count among its members luminaries such as Peter Thiel, created a company bent on making all that theory turn real, Blue Frontiers. Early last year, in fact, the group inked a deal with French Polynesia to effectively use wet territory under its dominion in an attempt to bring to life the Floating Island Project.

Crypto Floating Island Project Closer to Realization

“Blue Frontiers plans to prototype the first seastead with funds raised from the Varyon (VAR) Crowdsale, and to fund additional seasteads through sales,” the project continues. “The Varyon (VAR) Blue Frontiers holds for seastead and Seazone Construction, Development, and Administration will be used only as needed, in order to create seasteads and Seazones and to strengthen the ecosystem of products and services available to Varyon (VAR) holders.”

The distribution of VAR follows pretty standard ICO procedures: “The amount of Varyon (VAR) allotted to seastead/Seazone Construction, Development, Administration is inversely correlated with the amount purchased in the public sale. That is, the more Varyon (VAR) sold in the public sale, the less Varyon (VAR) held for seastead/Seazone Construction, Development, Administration,” Blue Frontiers details. Thus, up to 28% is available during public sale; up to 8% presale; up to 6% for seed funders; up to 15% for the team; and the remainder goes to the project itself, up to 72%.”

“Seasteading brings decentralization beyond the digital world of bits and into the world of atoms by providing modular, floating structures – seasteads – on which the evolution of new societies and forms of governance can occur,” Blue Frontiers asserts. “Promising solutions can branch off at any time by physically separating to create new seasteads – enabling a high level of evolvability and quick rate of adaptation. Mimicking nature’s time-tested method of variation and selection, the process of decentralizing governance through seasteading will spark the creation and evolution of new advancements in civilization.”

Did you think projects like seasteading will eventually get off the ground? Let us know what you think of this subject in the comments below.


Images via Pixabay, Seasteading Institute, Blue Frontiers


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Samsung Electronics Co is Now Exploring Blockchain Technology for Global Shipments

Samsung

One of the world’s largest makers of semiconductors and smartphones is considering blockchain technology for their global supply network, Bloomberg reported this morning. Samsung SDS, Samsung’s IT subsidiary, is looking to the technology to cut costs. Song Skwang-woo, Samsung’s VP and blockchain chief, thinks that adding blockchain to its current systems could cut costs up to 20%.

The South Koreans tech giant added Nexledger last year, which functions as a transaction management tool. Last year, Kwang-woo said in a press conference when announcing Nexledger:

“In developing our blockchain platform, we thought hard about how ...

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Samsung Electronics Turns to Blockchain to Track its Global Supply Chains

Electronics manufacturing giant Samsung is considering a blockchain platform to manage and keep track of shipments of its vast global supply chain network. In a significant endorsement of blockchain technology, Samsung Electronics – the world’s biggest chipmaker and smartphones manufacturer – is considering a broad implementation of a blockchain ledger platform to track its global

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The Results Are In: Dragonmint T1 Doesn’t Make the S9 Obsolete

The Results Are In: Dragonmint T1 Doesn't Make the S9 'Obsolete'

There’s been a lot of skepticism aimed at the company Halong Mining and its machine the Dragonmint T1. The firm announced in November of 2017 that it would be distributing its Dragonmint devices in 2018 and stated its miners would be the most efficient machines on the market. So far, after all the controversy, some Dragonmint miners have been delivered and reviews show the machines do produce close to 16 terrahash per second during operation  but the rigs are not even close to being 30 percent more efficient than the S9 as claim in November.

Also Read: NYDFS Superintendent Was Wrong — Bitlicense Severely Damaged Bitcoin Businesses

Myrig Mining Distributor Claims Samsung 10nm Chips Power Halong Miners

This week cryptocurrency enthusiasts have been talking about the new Dragonmint device, a SHA-256 BTC/BCH miner produced by the firm Halong Mining. On April 10 the mining device distributor Myrig stated on Twitter that the company Samsung and its semiconductor technology is “what powers Halong Mining DragonMint T1.” According to the owner of Myrig, the application-specific integrated circuit (ASIC) designed by Samsung is a 10-nanometer (nm) design.

 “Yes Samsung, and Yes 10nm —  I’m sure someone had seen some news in the past about it from big foundry about bitcoin and cryptos,” reveals Myrig’s tweet.

The Results Are In: Dragonmint T1 Doesn't Make the S9 'Obsolete'

Cobra Apologizes

Samsung revealed it was building ASIC technology for cryptocurrencies back in January of this year. News.Bitcoin.com reported on the firm’s foundry producing these ASICs for an “unknown Chinese mining hardware manufacturer.” Reports stated that Samsung was developing both GPU and ASIC semiconductors, and the technology would feature 10-nm chips. On the Halong Mining website, there is no mention of 10nm chips being utilized in any of its mining rigs. At the moment all of Halong’s manufactured batches are completely sold out and the website’s shop page says all of its miners are “unavailable”

The Results Are In: Dragonmint T1 Doesn't Make the S9 'Obsolete'

The news also follows the anonymous co-owner of Bitcoin.org calling Halong Mining a “scam.” However, on Friday, the 13, 2018, Cobra Bitcoin apologized to the Halong Mining company.

“I was completely wrong about Halong Mining,” explains Cobra Bitcoin over Twitter.  

Even though they’re secretive and mysterious company and raised some major red flags, it seems they’ve delivered functional hardware as promised. I’m extremely sorry to them for my attacks and I await my shipment of crow.

As news.Bitcoin.com reported earlier this month, individuals started getting their Halong Mining machines and have been tweeting pictures of some Dragonmint T1s being unboxed. Moreover, there were also pictures of side-by-side comparisons of the Bitmain Technologies-made Antminer S9 chipsets and the T1. At the time there were not many reviews online detailing the machines’ performance. There are a few reviews now online, alongside a video of the machine in action side-by-side with an S9.

The Results Are In: Dragonmint T1 Doesn't Make the S9 'Obsolete'
The Bitmain Technologies manufactured Antminer S9.

Reviews Are In: Dragonmint T1 and Antminer S9 Side-by-Side Comparisons Show the S9 is Not Even Close to Being ‘Obsolete’

The well known ‘Miner Digi’ Youtuber published a video demonstration on the Halong rig on Apr 11, 2018. After being connected to the Myrig 1600 watt PSU the Dragonmint did in fact reach close to 16 TH/s after some attempts to connect with Slush Pool. The video shows over a long period of time the machine consistently clocked between 15.5 to 15.9 TH/s in Miner Digi’s video. The Dragonmint machine in the video was roughly the same size as the Antminer S9 and the device made a distinct sound compared to the S9 as well.

The Results Are In: Dragonmint T1 Doesn't Make the S9 'Obsolete'
The Halong Mining manufactured Dragonmint T1.

Antminer S9s hash anywhere between 13.2 to 14 TH/s which is less than the Dragonmint’s hash performance, but the S9 cost $1,288 per unit as opposed to the first T1 batch price of $1,595 and a minimum of five per order. Eventually, Halong did allow single purchases for the T1 miners, but sold out quick, and the T1s have been “unavailable” ever since. In addition to the 16 TH/s, Halong also claim on its website the devices use (overt) “version-rolling” ASIC Boost technology. The Halong miner is anywhere between 1.5 to 2.5 TH/s faster than the S9 but costs more than $300 more per unit. Moreover, the performance is a stark contrast to being 30 percent more efficient which was a claim stated by bitcoin core developer and Halong Mining associate ‘Btcdrak.’

For instance, another Dragonmint review details the T1’s efficiency is definately a touch higher compared to the S9, “but not by a whole lot.” According to the in-depth review posted April 4, the T1 “ramped up to 14.98 to 15.97 TH/s” but “pulled roughly 1480 to 1497 watts at the wall” The same side-by-side comparison said the “Antminer S9 pulled 1375 [watts] at 14 TH/s.” This means there is a clear wattage discrepancy between both machines and a price difference, which makes performance specs not much different. Even though the T1 is using ASIC Boost and claims to be utilizing Samsung manufactured 10nm hardware, its efficiency is at best minimal. This means calling the Antminer S9 “obsolete” is a pretty absurd statement, to say the least.

What do you think about the Halong Miner Dragonmint series against the Antminer S9? Do you believe the claims that the mining rig utilizes Samsung 10nm technology? Let us know what you think about this subject in the comments below.


Images via Shutterstock, Pixabay, Halong Mining’s website, Bitmain Technologies, and Twitter.


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