Samsung is Reportedly Working on Chips for Cryptocurrency Mining

Samsung is also getting in on the cryptocurrency business just like everyone else. The company is getting entry by manufacturing ASIC chips designed specifically for mining precious bitcoins. Samsung is Reportedly Working on Chips for Cryptocurrency Mining.

Recently, Samsung has confirmed that it has started the manufacturing ASIC chips which are used to mine bitcoin, ether and other cryptocurrencies.

Samsung is Reportedly Working on Chips for Cryptocurrency Mining

The Bell, Korean news outlet, out broke the news for the first time on Tuesday. While on Wednesday it is confirmed by Samsung to TechCrunch.

A company spokesperson told TechCrunch:

“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,”

However, Samsung declined to provide more details. The move comes as part of a collaboration with a Chinese distribution partner. Other than that, Samsung also didn’t disclose that who it’s making the chips for, and to what end.

For readers information, Samsung is not making CPUs or GPUs for bitcoin mining, it is only making application-specific integrated circuit or ASIC chips.

It is not sure exactly whether Samsung is going to fit into the cryptocurrency chip manufacturing business, but it is putting itself in direct competition with some big players in chip manufacturing. GOOD LUCK Samsung!

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