Samsung Confirms It Is Manufacturing ASIC Chips for Cryptocurrency Mining

Samsung has confirmed that it has started manufacturing ASIC chips that are used to extract cryptocurrencies such as Bitcoin, Ethereum and others. This confirmation follows some reports from South Korea that alluded to this development. While Samsung has not commented on the customers of these chips, reports claim that it has partnered with Chinese hardware makers Bitcoin and mass production is expected to begin soon.

According to a report by TechCrunch, Samsung’s foundry company has begun to develop ASIC (Application Specific Integrated Circuit) chips that will be used in the cryptocurrency chip manufacturing process. “Samsung’s foundry business is currently engaged in the manufacture of cryptocurrency chips, but we are not in a position to disclose more details about our customers,” a company spokesman said. TechCrunch. Currently, the Chinese companies Bitmain and Canaan Creative dominate this space, the two companies establish a partnership with the Taiwanese chip manufacturer TSMC. A QZ report notes that the extraction of cryptocurrencies added more than $ 350 million in revenues to TSMC in the last quarter.

The cryptocurrency of mining requires high energy efficiency hardware, which may be possible thanks to the ASIC chips that Samsung plans to launch into the market in the near future. Companies involved in large-scale mining often use ASIC chips to create different mining exploration configurations.

It is currently difficult to know where Samsung should fit into the growing cryptocurrency market. However, it will certainly compete with TSMC when it comes to making these custom chips. In addition, Samsung could add more competition if you plan to create your own hardware, which is financially capable of achieving.

Samsung’s semiconductor business recently recorded record profits in the fourth quarter of 2017. It is not clear to what extent the casting industry will be large in general.

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