Samsung Launches ASIC Chips for Cryptocurrency Mining
Samsung has confirmed that it has begun manufacturing ASIC chips which are used to mine bitcoin and other cyrptocurrencies. The company has already produced high-capacity memory chips for GPUs, which are conventionally used to handle graphics on computers but are also deployed for mining purposes.
“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,” a company spokesperson told TechCrunch.
The news brings big-name competition to the ASIC space, which is dominated by China’s Bitmain and Canaan Creative, both of which work with Taiwanese giant TSMC. Indeed, the crypto explosion is said to have added $350-$400 million to TSMC’s (already impressive) quarterly revenues.
All the same, it’ll take some major business for crypto have a noticeable impact on Samsung’s bottom line. The Korean firm booked an incredible $69 billion in chip sales in 2017 thanks mainly to the smartphone industry.