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01 February, 2018

Samsung to cash in on the Cryptocurrency craze by manufacturing Bitcoin-mining ASIC chips

Samsung are rumoured to be fabricating cryptocurrency mining ASIC chips for an unnamed Chinese distribution partner. Fear not, however, as gamers are expected to be left unscathed by this supposed crypto-mining deal.

The news comes from Korean news outlet The Bell, who claim the tech giant concluded a deal for production of Bitcoin mining specific ASIC (application specific integrated circuits, if you must know) chips last year for production this January. This ASIC silicon is being built to rapidly churn out the parallel-heavy algorithms required by certain cryptocurrencies, mostly focusing on the coin of the moment: Bitcoin.

Samsung have since confirmed their new venture into the booming cryptocurrency tech market in a statement made to TechCrunch:

Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips,” Samsung says. “However we are unable to disclose further details regarding our customers.

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