Samsung is manufacturing chips specifically designed to mine cryptocurrencies

Samsung is already blooming in the semiconductor business as it became the biggest manufacturer of chips surpassing Intel. But Samsung has decided to take a step further and decided to expand in a bigger market that involves cryptocurrencies.

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In a post by TechCrunch, Samsung has confirmed that it will be expanding into cryptocurrency market by manufacturing hardware specifically designed to mine cryptocurrencies like Bitcoin and Ethereum. Samsung also told that:

Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips. However we are unable to disclose further details regarding our customers.

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With cryptocurrency being one of the busiest markets Samsung is trying to take a bold. The processors that Samsung is developing are ASICs (Application Specific Integrated circuits). Unlike chips in personal computers focused on providing multi-purpose processors, these chips provide single computational task.

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Interest in cryptocurrency has shot up in recent time and so Samsung is trying to cash in by trying to provide these types of chips to users who want to mine cryptocurrencies, as no. of cryptocurrency miners is also increasing.

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Reports from Korean media has arisen that Samsung will be working closely with Taiwanese firm TSMC, which supplies chip solely for mining cryptocurrencies.

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Samsung’s semiconductor is already very huge but it doesn’t mean that Samsung is going to earn huge profits from these cryptocurrency mining chips.

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Source: TechCrunch, TheVerge

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