Samsung Delays Releasing Galaxy Note Due To Increasing In Bitcoin Mining

Samsung Delays releasing Galaxy Note Due to shortage of Semiconductor due to increase in bitcoin mining

Bitcoin and its Demand 

Bitcoin has got lots of popularity over a decade, however, it is a cryptocurrency formed by a group of unknown people in 2008 with the name of Satoshi Nakamoto. In the initial stage, it was released as open-source software. Bitcoin mining is the process of transaction in digital currency which we call blockchain in our simple language. Bitcoin is legal in some countries and is illegal in some countries.

Semiconductor Status in Market

Lots of research has discussed/ found that there is a shortage of semiconductors in the market which may be beneficial for investors of stocks. However, the company which uses semiconductor has been seriously hit by the shortage of semiconductors. Talking about its possibility, a consulting firm. Alixpartner has predicted that the global auto industry will lose more than $60.6 Billion in revenue this year. Due to a shortage of chips.  As we know that chips are the major components used in iPhone, Personal computers, phones, and other products. 

Samsung Delays releasing Galaxy Note Due to increasing in bitcoin mining

Bitcoin mining has increased a lot over the decades which has got a shortage of GPU and semiconductor in the market these days which is indirectly hitting onto different companies which require GPU (GPU is also known as Graphics Processing Unit which is an electronic circuit designed to accelerate the creation of images in a frame of buffer for output.) and semiconductor to finalize their products. 

Samsung is also one of them. It uses GPU and semiconductor. Samsung might postpone the date to release the Galaxy note series due to a lack of GPU as well as a semiconductor. They might get their product (Galaxy Note Series) out in 2022. However, Samsung company makes their own chip. But the shortage of semiconductors has created a hard situation for them to release their Samsung series in 2021. So that, Samsung Delays releasing Galaxy Note Due to increasing in bitcoin mining which is indirectly caused due to increasing rates of bitcoin mining.

Samsung AGM (Annual General Meeting)

Samsung conducted its annual general meeting in Suwon, South Korea. In the meeting, The Co-CEO (Chief Executive Officer) DJ Koh revealed that Samsung is going to skip its introduction in the market due to an imbalance caused in the market. Semiconductors have a high demand however it has less supply in the market. Koh said that Samsung wants to release but due to some inconvenience timing may get changed to released the new product for the Samsung note series. However, analysts and some researchers have claimed that it will have a severe effect on the revenue of the company. The company may bear around 5% of shipments. This seems a lot as it is one of the most expensive electronic gadget companies in the world.