Samsung is making crypotcurrency mining chips

Marco Green
February 1, 2018

For those who don't know, ASIC chips are actually "application-specific integrated circuits" and these chips aren't as flexible as GPUs or CPUs in terms of performing tasks as these chips are designed for a single, narrow computational task, in this case, Cryptocurrency mining.

It's too early to tell what sort of impact this could have on Samsung's bottom line. It makes up part of a crypto mining device. "We are making progress with our foundry business that supplies to a virtual money mining company in China", said Samsung in the interview. But while Samsung confirmed ASIC manufacturing to TechCrunch, it declined to comment on its collaborator.

It's a confirmation of previous reports that Samsung has entered the crypto-mining sector.

Unlike normal computer chips which are created to perform a variety of functions, ASIC mining chips are specifically built for a single computational task: to compute hashes very quickly.

Until 2013, Asic chips were more commonly associated with the TV industry.

A media outlet in Korea claims that Samsung developed a specialized ASIC chip past year and started mass producing the part this month.

Until now, Taiwan's TSMC was the only other major processor-manufacturer engaged in the activity.

Samsung has booked an incredible $69 billion in chip sales in 2017 which helped the company to become the largest chipmaker in the world, thanks to its smartphone business.

The Bell, Korean news outlet, out broke the news for the first time on Tuesday.

According to Samsung, fourth-quarter earnings were driven by the components business, with the largest contribution coming from the memory business that manufactures DRAM and NAND, as orders for high-performance memory products for servers and mobile storage were reportedly strong.

Intel is hoping to increase its own market share in the sector by offering a new proprietary memory technology called 3D Xpoint, which it began selling previous year.

Other reports by Click Lancashire

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