Samsung Electronics has made a new breakthrough in the advanced semiconductor race. Its foundry division has finalized agreements to manufacture 2-nanometer chips with full gate (2 nm GAA) technology for two of China’s largest cryptocurrency mining equipment manufacturers: MicroBT and Canaan. The operation, revealed by the Korean financial newspaper Hankyung, strengthens Samsung’s list of early adopters in this cutting-edge technology and points to a clear strategy: closing the gap with TSMC, the industry leader.
MicroBT and Canaan, two key customers… while Bitmain remains with TSMC
MicroBT and Canaan are, respectively, the second and third largest global manufacturers of cryptocurrency mining equipment. The largest, Bitmain, continues working with TSMC for its ASICs—specialized circuits that act as the “brain” of Bitcoin miners.
According to information published in Korea, both manufacturers have ordered Samsung’s 2 nm ASICs for their upcoming generations of mining hardware. These chips will be produced on the S3 line in Hwaseong (Gyeonggi Province), one of the factories where Samsung has already deployed capacity for 2 nm processes under GAA (Gate-All-Around) architecture.
- The combined orders from MicroBT and Canaan amount to approximately 2,000 300mm wafers per month,
- representing about 10% of Samsung’s current 2 nm production capacity,
- and an estimated annual revenue close to $480 million, based on prices of around $20,000 per wafer, according to calculations cited in the Korean press.
While not an enormous figure in volume, it carries significant symbolic weight: confirming that Samsung’s 2 nm client ecosystem is expanding beyond consumer electronics and high-performance AI.
From smartphones and AI to Bitcoin mining
These agreements with MicroBT and Canaan add to other major names in Samsung’s early adoption list for the 2 nm node. The company had already announced that its mobile SoC Exynos 2600 would be produced at 2 nm, as well as a Tesla artificial intelligence chip known in the press as “AI6”.
Cryptocurrency mining, though less hyped than in previous cycles, remains a compute- and energy-intensive business. For miners, advancing to more sophisticated nodes is not just about performance but also energy efficiency: every small increase in performance per watt can make a difference in profitability in an environment of tightening margins.
This is where the 2 nm GAA architecture comes into play, promising improvements in performance and power consumption over previous 3 nm and 5 nm processes, thanks to better channel control and reduced leakage. TSMC has its own roadmap toward 2 nm, while Samsung pioneered the production of 3 nm GAA chips aimed precisely at mining ASICs a few years ago.
The fact that MicroBT, which had previously worked with Samsung on 3 nm chips for some models, is repeating at 2 nm suggests Samsung is starting to convince more clients that its technology has improved in both performance and, crucially, manufacturing yield (yield), the Achilles’ heel of its early advanced processes.
A strategic move to narrow the gap with TSMC
Market share-wise, the picture remains clear: TSMC dominates the foundry market with a lead of more than 60 percentage points over Samsung, according to estimates from firms like TrendForce. The Taiwanese giant supplies nearly all major high-volume clients in leading-edge nodes: Apple, Qualcomm, AMD, MediaTek, and many of the key AI chips on the market.
But Samsung has made it clear that it does not intend to settle for a secondary role. Its strategy includes:
- Accelerating the adoption of 2 nm GAA with an increasing list of clients (smartphones, AI, now mining).
- Adjusting wafer prices to entice TSMC clients seeking risk diversification or cost reduction.
- Scaling up 2 nm capacity globally, not only in Korea but also in the U.S.
In this regard, the company plans for its Taylor plant in Texas to feature a 2 nm line capable of producing over 15,000 wafers per month by 2027, according to recent data related to the installation plans for advanced lithography equipment from ASML.
For Samsung, the orders from MicroBT and Canaan—though modest in volume—are a crucial piece: they diversify the client base, fill part of the initial 2 nm capacity, and serve as a showcase to demonstrate its ability to produce highly specialized chips for demanding markets in performance and power consumption.
A delicate balance between mining and regulation
Allocating part of the 2 nm capacity to cryptocurrency mining equipment also sparks interesting debates. On one hand, it confirms that the crypto sector remains willing to pay for the latest processes to stay competitive. On the other hand, these activities are under increased regulatory scrutiny regarding energy consumption, alongside geopolitical tensions over the supply of advanced chips to Chinese companies.
So far, publicly known details include:
- Bitmain, the global leader in miners, maintains its relationship with TSMC and has not yet switched to Samsung’s 2 nm node.
- MicroBT and Canaan are leveraging Samsung’s available capacity to secure their own designs in 2 nm GAA, presumably with favorable pricing and volume agreements.
- The total volume of these contracts accounts for around 4% of Samsung Foundry’s recent annual sales, with room to grow if the initial batches succeed.
If the projects perform well in terms of performance, power efficiency, and reliability, Samsung gains leverage to approach other clients currently reliant on TSMC. At the same time, it tests its ability to industrialize 2 nm in very different applications—from smartphones and data centers to mining farms.
What’s coming: 2 nm as a global battleground
The announcement of these contracts arrives as the industry prepares for a major leap to 2 nm:
- TSMC plans to begin high-volume production of 2 nm in Taiwan starting 2025–2026.
- Samsung is already manufacturing 2 nm chips for some clients and is working on second and third-generation GAA processes (such as SF2P+), seeking improvements in performance, power, and density.
- Governments across the U.S., Europe, and Asia are promoting subsidies and regulatory frameworks to attract advanced-node fabs to their territories, motivated by economic and national security concerns.
In this global landscape, each new 2 nm customer matters. The fact that two of the largest Bitcoin mining hardware manufacturers have chosen Samsung sends a clear message: the company is beginning to be seen as a viable—and potentially more flexible—alternative to TSMC at the forefront of technology.
Whether this results in a real shift in market share or if TSMC maintains its dominance through scale, ecosystem, and reliability remains to be seen. Nevertheless, the 2 nm race is no longer a solo game.
Frequently Asked Questions about Samsung, 2 nm Chips, and Crypto Mining
What does it mean for a chip to be 2 nm GAA?
The “2 nm” node is the next generation of semiconductor manufacturing, featuring extremely small transistors. The GAA (Gate-All-Around) architecture surrounds the transistor’s channel on all sides, improving current control and reducing leakage. Practically, this translates into higher performance and lower power consumption compared to older technologies like 5 nm or 3 nm FinFETs.
Why do Bitcoin mining companies want 2 nm chips?
Bitcoin mining is a race for efficiency: whoever achieves more hashrate with less energy consumption gains an advantage. Using ASICs fabricated with more advanced nodes can boost performance per watt. In an environment of high electricity costs and increasing network difficulty, transitioning from 5 nm to 3 nm, and now to 2 nm, can be the difference between profitable and unprofitable operations.
Does this strategy help Samsung narrow the gap with TSMC?
In absolute terms, MicroBT and Canaan’s orders are not huge, but they are strategic. They help fill early 2 nm capacity, expand the range of use cases, and validate Samsung’s process in a performance- and power-sensitive market. If these projects succeed, Samsung will be better positioned to compete for larger-volume contracts in mobile, data centers, and AI chips against TSMC.
Could political or regulatory restrictions arise over supplying advanced chips to Chinese companies?
Potentially, yes. Export controls on advanced semiconductors to China are increasingly enforced by the U.S. and allies. No specific restrictions have been publicly disclosed regarding these particular contracts, but supplying 2 nm chips for mining equipment could draw regulatory scrutiny if deemed to impact sensitive computing capabilities or influence geopolitical balances. Monitoring export regulation developments will be important in the coming years.
Sources: Hankyung; SamMobile; Wikipedia (history of 3 nm processes and Samsung/TSMC clients).