Samsung joins the Cryptocurrency mining field with mining chips
While Intel has dominated the world of CPUs with its i9 editions, Samsung has begun to join the field, but in a different and more specialized style, the industry of cryptocurrency processors such as Bitcoin and Ethereum.
Samsung joins the Cryptocurrency mining field
“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.
This came after a report in the Korean media claiming that the Korean company had already started working with a Chinese distributor without naming them to provide them with single-tasking chips called ASIC-Application-Specific Integrated Circuits, which unlike the processors we use on our computers which perform many tasks, as it performs a specific task and in this case it solves complex calculations which are the basic step in cryptocurrency mining.
Also Read: Everything about Bitcoin and the Mining process
Other news also says that Samsung is now competing with a Chinese company called Bitmain in the field of ASIC processors, a company that collaborates with another company called Canaan Creative, both working in cooperation with the Taiwanese giant TSMC, whose profits have been reported to have ranged from 350 to $ 400 million per quarter.
It seems that the electronic or cryptocurrency market has become the future of the industry worldwide including Korea, Japan and Silicon Valley and the evidence is ahead of us by starting Samsung – one of the largest companies in the world in the fields of mobile phones and home appliances – at work to enter this area that is full of competitors in the current time.
We are still waiting for more details that may be revealed to us in the coming days either directly by the Korean company spokespersons or through leaks that may come out to reveal Samsung’s plan to join the cryptocurrency market.
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