Mining Players Nvidia And Samsung Still In Record Profit Despite Crypto Weakness

Tech giant Samsung expects overall profits to continue into Q4 despite a noted glut on the market for memory components used in cryptocurrency mining, among other uses. This comes after a collapse in demand for crypto-specific mining gear earlier this year, as prices for crypto-assets plunged.

Prices for Dynamic Random Access Memory, or DRAM, a key component in the production of graphics cards, have probably peaked, says a source quoted by the Financial Times (FT) of London. Prices for DRAM have already risen 48% from the start of the year and may rise further in Q3, but are expected to fall starting in Q4.

Samsung is expected to cut production of the chips to stabilize any fall in price. Micron, the large US manufacturer of DRAM chips, faced a “plunge” in its stock price in Q3 as it struggled to move its DRAM stock.

Nvidia, known for manufacturing graphics cards, has seen record profits despite declining demand for cryptocurrency miners. A fifth of Nvidia’s revenue now comes from producing “modified graphics chips” for data centers, which support the use of AI to process voice and facial recognition data, according to Bloomberg.

“China imports more semiconductors than crude oil”

It is not perfectly clear how much this general decline in DRAM prices has to do with the overall weak demand for graphics card. A Chinese official recently intimated that the DRAM market, which is “highly concentrated” between two Korean companies (Samsung and SK Hynix) and one American company (Micron), could be suffering from “price fixing”.

China, aspiring in future to be DRAM self-sufficient, is now heavily dependant upon imports to satisfy its DRAM need. Although Chinese production of the chips has started to pick up, “their production capacities are not high, they are not expected to become viable competitors for [foreign companies] in terms of volumes, production efficiencies, or performance any time soon.”

 

Zcash 'Company' Changes Name to 'Zerocoin Electric Coin Company' for More 'Clarity'

The Zcash company, which supports the ongoing development of the Zcash (ZEC) platform, a leading privacy-oriented cryptocurrency, has rebranded to the Electric Coin Company.

According to an official company blog post, the name change from “Zcash company” to “Electric Coin Company” was made in order to have more clarity. Explaining that the “legal name” for the firm was always “the Zerocoin Electric Coin Company, LLC”, the organization clarified that it had been referring to itself as “the Zcash company.”

However, the company’s blog noted that the development of “Zcash” is a community-based project and that some of the privacy coin’s business-related initiatives may involve the Zerocoin Electric Coin commercial entity. Moreover, Zerocoin’s operations are not directly associated with the Zcash Foundation - which in itself is a “separate and independent” organization, according to the z.cash blog post. Notably, the Zcash Foundation has “its own mission, team, and board of directors.”

Rebranding Process: New Domain, Change Office Sign

Acknowledging that it will take the company “a little while to get the new branding right, launch a new domain, and change out the sign at the office”, the company blog mentioned that “the name change is public.” Except for the name change, the entity associated with Zcash explained: 

We are the same team, with the same mission: to empower everyone with economic freedom and opportunity. We developed and help steward Zcash.

Zerocoin's Research & Engineering Projects May Not Be Integrated Into Zcash 

Notably, the Electric Coin Company is currently working on “research and engineering [projects] that may, or may not” be integrated into the Zcash codebase, the blog noted. At present, the Electric Coin team consists of around 30 professionals from across the globe that are involved in the following initiatives:

  • “Product Development and Support”,
  • “Builds Zcash software”,
  • “Participates in cryptographic research”,
  • “Works with third parties to perform regular security audits of Zcash”,
  • “Improves the safety and security of the Zcash network”,
  • “Works on the Zcash user experience, such as the reference wallet” 

Company Website, Social Media Accounts To Be Changed/Updated Soon

In addition to working collaboratively on the initiatives listed above, the Electric Coin company helps in “translating content into different languages”, creates "educational content”, and supports the overall development of the Zcash platform.

As mentioned in the company’s announcement, the Electric Coin company “information will be moved from https://z.cash/ to a new domain with its own website.” Social media accounts associated with the company will also be updated.