Samsung confirms it is making ASIC chips for cryptocurrency mining

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CyberWisdom Safe Harbor Commentary on Samsung:
techcrunch.com announces a hidden news that Samsung has confirmed that it has started production of ASIC chips for digging Bitcoin, ether and other cryptocurrencies.
“Samsung’s foundry business is currently engaged in the manufacture of cryptocurrency mining chips, however, we can not disclose more details about our customers,” a company spokesman told TechCrunch.
Samsung declined to provide more details when we asked.
South Korean media reports said the technology giant has partnered with an unnamed Chinese distribution partner. Samsung has produced mass-storage chips for GPUs, which are often used to process graphics on computers, but are also being deployed for mining purposes.
The news led to big competition in the field of ASIC, which is dominated by China’s Bitmain and Canaan Creative, both of which have teamed up with Taiwan’s giant TSMC. In fact, encryption technology is said to have added $ 354-4 million to TSMC’s (already impressive) quarterly revenue.
How Samsung adapt to this equation is unclear. At a fundamental level, it will be as rival as TSMC, which competes in other industry segments, as a company that builds and markets finished products in the market. However, if Samsung’s move brings in a new partner or if it does its own hardware, then it can make a competitor Bitmain and collaborate.
All of this, some of the key business encryption has a significant impact on Samsung’s bottom line. The Korean company’s chip sales in 2017 reached a staggering 6.9 billion US dollars, mainly due to the smart phone industry.
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Fresh from toppling Intel as the planet’s biggest seller of chipsets, Samsung has confirmed that it has begun manufacturing ASIC chips which 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 disclose further details regarding our…… Engaging post, Read More…
thumbnail courtesy of techcrunch.com

Samsung’s now making chips designed for cryptocurrency mining
Samsung’s semiconductor business is booming, with the company recently overtaking Intel as the world’s biggest chipmaker. But the South Korean firm is not resting on its laurels, and is currently looking to expand into the buzziest contemporary market for processors: cryptocurrency mining. As reported by TechCrunch, Samsung has confirmed it’s in the process of making hardware specially designed for mining cryptocurrencies like Bitcoin and Ethereum. A spokesperson for the firm 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.” These chips are known as ASICs, or application-specific integrated circuits. ASICs are processors that have been specially designed for a single computational task, as opposed to the multi-purpose processors we use in computers and phones. As the valuation of cryptocurrencies has shot up, so has the demand for these sorts of chips. In the case of Bitcoin, the currency is created by solving mathematical problems, with these calculations also maintaining the integrity of Bitcoin transactions. As more bitcoins are mined, these math problems become increasingly difficult. This has led to miners moving on from using normal integrated graphics cards, to GPUs designed for gaming,… Samsung’s now making chips designed for cryptocurrency mining

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