Samsung Produces Cryptocurrency Mining Chips

According to the latest news coming from the South Korean tech giant, Samsung Produces Cryptocurrency mining chips. When will they be out in the market?

1 February, AtoZForex It appears that the tech industry giant Samsung has stepped into the cryptocurrency market. The semiconductor business of Samsung is on the rise – the company had decided to try itself in the role of the biggest chipmaker in the world. Apparently, it might even outpace Intel in this sense.

Samsung Produces Cryptocurrency Mining Chips

In the latest news, this South Korean company has been looking to expand its business into one of the most trending markets for processors these days – cryptocurrency mining. Numerous online reports claim that Samsung has stated it is in the process of creating a special hardware for mining cryptocurrencies, such as Ethereum and Bitcoin.

A spokesperson for the company has been quoted in one of the media reports, stating:

“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.”

The cryptocurrency mining chips are also known as ASICs, or application-specific integrated circuits. They are processor that are specifically tailored for a single computational task, in contrast to the multi-purpose processors used in computers and phones.

Cryptocurrency Mining Demand is Shifting

The demand for cryptocurrencies these days is high, so is the interest for the cryptocurrency mining chips. For instance, Bitcoin can be mined by solving mathematical problems. These calculations are also maintaining the integrity of Bitcoin transactions. The more Bitcoins are mined – the more difficult these mathematical problems become.

This trend has caused miners to shift from using normal integrated graphics cards to GPUs designed for gaming. Now, they are moving to use specifically built ASICs.

Yet, it is unclear, what kind of chips Samsung will be producing exactly. Some of the local media speculate that Samsung will be collaborating with Taiwanese firm TSMC. The firm is supplying chips for a number of firms to mine cryptocurrencies.

Think we missed something? Let us know in the comments section below.

    Share Your Opinion, Write a Comment