Samsung approves it’s working on chips for cryptocurrency mining

as informed in Just like everyone else on the planet, it looks like Samsung is getting in on the cryptocurrency business, with manufacturing ASIC chips designed specifically for mining those precious bitcoins. "Samsung's foundry business is currently engaged in the manufacturing of cryptocurrency mining chips. To clarify, Samsung isn't making CPUs or GPUs for bitcoin mining, instead it is making application-specific integrated circuit or ASIC chips. That's why ASIC chips built for cryptocurrency mining are in such high demand. Manufacturing ASIC chips for crypto mining isn't much of a stretch for Samsung's enormous manufacturing infrastructure.

Samsung approves it is making ASIC chips for cryptocurrency mining

Fresh from toppling Intel as the planet's biggest vendor of chipsets, Samsung has approved that it has begun manufacturing ASIC chips that are used to mine bitcoin, ether and other cryptocurrencies. "Samsung's foundry business is currently engaged in the manufacturing of cryptocurrency mining chips. However we are unable to discover more specifics regarding our customers," a firm spokesperson said TechCrunch. Samsung endeed produces high-capacity memory chips for GPUs, that are conventionally used to handle graphics on computers however are too deployed for mining purposes. The break news brings big-name competition to the ASIC space, that is dominated with China's Bitmain and Canaan Creative, both of that work with Taiwanese giant TSMC.

Samsung meets cryptocurrency with chips for mining Bitcoin

as informed in In its fourth-quarter earnings report Wednesday, the consumer-electronics purveyor and world's largest chipmaker with income told it expects its foundry business to get a bump-up from "growing request for cryptocurrency mining chips." "Samsung's foundry business is currently engaged in the manufacturing of cryptocurrency mining chips," the firm told in a statement sent to various media outlets. Mining for cryptocurrencies like Bitcoin means putting your pc to work solving thorny math crises that're used to verify cryptocurrency transactions. It seems the cards have turned out to be great for mining cryptocurrencies like Ethereum. The Samsung chips in question are ASIC, or application-specific integrated circuit, chips, the BBC reports, pointing to the Korean-language newspaper The Bell.

collected by :Molly Tony