Samsung Develops Chips For Mining Cryptocurrency


In 2017, Samsung has already become the largest chip manufacturer. But the company does not intend to rest on its laurels, and the management is looking for new opportunities to increase production.

In 2017, Samsung has already become the largest chip manufacturer.

As one of the prospective niches in Samsung consider the equipment for mining crypto-currency, ITC reports.

Representatives of the company confirmed that at present such equipment is being developed, and production capacities are being prepared for production of chips for mining. However, more detailed information, including about the company’s customers, has not yet been disclosed.

The chips for mining are known as ASIC (application-specific integrated circuit). They are designed to effectively perform a certain computing task and are different from the multi-purpose processors used in smartphones and computers. Mining crypto currency based on a certain algorithm is just such a computational task.

As the value of the crypto currency grows, so does demand for equipment for mining. But the peculiarity of mining lies in the fact that as the equipment involved in mining increases, the complexity of calculations grows to ensure the stability of emissions.

Because the miners are interested in more and more efficient computing systems. Because of this, there is a migration from the processors to video cards, and then to ASIC-systems.

While there is no information what kind of equipment will be produced by Samsung. Currently, the supplier of chips for system builders for mining, such as Bitmain, is TSMC. The delivery of such chips quarterly brings the company $ 350-400 million in revenue.

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