Samsung Embarks On Developing Cryptocurrency Mining Chips

Samsung Embarks On Developing Cryptocurrency Mining Chips. There is something special about Samsung. The world’s number 1 mobile phone maker is now doing more. The company announces recently that it is now into cryptocurrency mining business. Do not confuse the industry the company is into. Samsung is not mining digital coins. The number one mobile phone developer is now designing chips for cryptocurrency mining. Upon entering this sector of the market, it is now official that the company is also leading. This South Korean company is not resting. It announces that it will expand its business to deliver chips to all its clients.

What Is Causing Samsung To Develop Cryptocurrency Mining Chips?

The number of clients in the digital currency mining sector is growing fast, which is even as several countries are imposing tough rules on digital currency trade. TechCrunch reports that Samsung is confirming its involvement in the business. The site reports that Samsung is will embark on the work of creating hardware. The company is now into the creation of chips for mining Bitcoin and Ethereum. A spokesman for the company says that the digital coin mining industry is growing. Because of this, Samsung is taking the opportunity to produce chips. The chips will aid in the mining of the digital coins.

Samsung Is Unable To Disclose Details

“Samsung’s foundry business is currently in the manufacturing of cryptocurrency mining chips. But we are unable to disclose further details about our customers,” the spokesman says. The kinds of chips the company is making are unique. It is not the first time a company is designing such types of hardware. Application-Specific Integration Circuits (ASICs, are for digital currency mining. These are very specific to perform a task. They are not like multi-processors that are on computers or mobile phones. ASICs perform a single computational task.

The Demand For Cryptocurrency Chips Grows

The demand for such chips is growing. So many people are now into the bitcoin and other digital currency investment. What is more, if the demand for digital currency is high, the need for more chips also arises. It is for this reason that this phone developer decides to venture into such business. The work of these chips is to solve complex mathematical problems. Solving of such problems is essential. Mathematical issues become hard, which is because the number of people mining cryptocurrencies is also increasing. Thus, there is a growing need to create more chips to help miners.

Normal Integrated Graphics For Mining?

To do mining work easy, many miners are trying several methods. Although many are using normal integrated graphics in the past, they no longer do so. Some are now using gaming GPUs. But, there is another small group of elite miners who are now turning to ASICs. The latter is for easy digital currency mining. Hitherto, it is not clear the kind of products Samsung intends to produce. But according to South Korean media reports, the mobile developer is teaming up with TSMC. The latter is a Taiwanese firm. TSMC is currently supplying chips to many firms whose main business is to mine digital coins. One of the companies that enjoy the chips from TSMC is Bitmain, which is the kind of business Samsung wants to do.

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