Samsung confirms it’s making ASIC chips for cryptocurrency mining • TechCrunch

Fresh from toppling Intel as the planet’s biggest seller of chipsets, Samsung has confirmed that it has begun manufacturing ASIC chips that are used to mine bitcoin, ether and different cryptocurrencies.

“Samsung’s foundry enterprise is presently engaged within the manufacturing of cryptocurrency mining chips. Nevertheless we’re unable to reveal additional particulars concerning our prospects,” an organization spokesperson informed TechCrunch.

Samsung declined to offer extra particulars once we requested.

The assertion follows reports in Korea media which claimed that the tech large had made the transfer in collaboration with an unnamed Chinese language distribution associate. Samsung already produces high-capacity memory chips for GPUs, that are conventionally used to deal with graphics on computer systems however are additionally deployed for mining functions.

The information brings big-name competitors to the ASIC house, which is dominated by China’s Bitmain and Canaan Creative, each of which work with Taiwanese large TSMC. Certainly, the crypto explosion is said to have added $350-$400 million to TSMC’s (already spectacular) quarterly revenues.

How Samsung suits into this equation isn’t clear proper now. At a base stage, it’s going to rival TSMC — which it is aware of nicely from competing in different trade segments — for the eye of firms that construct and promote completed mining merchandise out there. However, if Samsung’s transfer brings on new companions or if it makes {hardware} itself, then it may allow rivals to Bitmain and co.

All the identical, it’ll take some main enterprise for crypto have a noticeable influence on Samsung’s backside line. The Korean firm booked an incredible $69 billion in chip sales in 2017 thanks primarily to the smartphone trade.

Notice: The writer owns a small quantity of cryptocurrency. Sufficient to achieve an understanding, not sufficient to vary a life.

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