Published On: Wed, Jan 31st, 2018

Samsung confirms it is creation ASIC chips for cryptocurrency mining

Fresh from toppling Intel as a planet’s biggest seller of chipsets, Samsung has reliable that it has begun manufacturing ASIC chips that are used to cave bitcoin, sky and other cryptocurrencies.

“Samsung’s foundry business is now intent in a production of cryptocurrency mining chips. However we are incompetent to divulge serve sum per a customers,” a association orator told TechCrunch.

Samsung declined to yield some-more sum when we asked.

The matter follows reports in Korea media that claimed that a tech hulk had done a pierce in partnership with an unnamed Chinese placement partner. Samsung already produces high-capacity memory chips for GPUs, that are conventionally used to hoop graphics on computers though are also deployed for mining purposes.

The news brings big-name foe to a ASIC space, that is dominated by China’s Bitmain and Canaan Creative, both of that work with Taiwanese hulk TSMC. Indeed, a crypto blast is pronounced to have combined $350-$400 million to TSMC’s (already impressive) quarterly revenues.

How Samsung fits into this equation isn’t transparent right now. At a bottom level, it will opposition TSMC — that it knows good from competing in other courtesy segments — for a courtesy of companies that build and sell finished mining products in a market. But, if Samsung’s pierce brings on new partners or if it creates hardware itself, afterwards it could capacitate competitors to Bitmain and co.

All a same, it’ll take some vital business for crypto have a conspicuous impact on Samsung’s bottom line. The Korean organisation requisitioned an implausible $69 billion in chip sales in 2017 thanks especially to a smartphone industry.

Note: The author owns a tiny volume of cryptocurrency. Enough to benefit an understanding, not adequate to change a life.

Featured Image: Getty Images

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