Samsung announces it's making cryptocurrency mining chips

Samsung gets into ASIC miners, prepares to enter and most likely dominate cryptocurrency mining technology.

@anthony256

Published Feb 2, 2018 11:00 PM CST
Updated Nov 3, 2020 11:52 AM CST

31 seconds read time

We have all seen the headlines lately, with cryptocurrency in Bitcoin, Ethereum, Ripple and hundreds more cryptocurrencies, as well as crypto mining, but now we find out industry heavyweight Samsung is getting into the crypto mining game.

Samsung announces it's making cryptocurrency mining chips | TweakTown.com

New reports from last week hit South Korean outlet The Bell, where they reported Samsung had started manufacturing ASICs that they would provide to a Chinese mining firm, that is anonymous for now. A company spokesperson has told TechCrunch that "Samsung's foundry business is currently engaged in the manufacturing cryptocurrency mining chips".

This is gigantic news as right now, TSMC is the king of ASIC miners that they ship a large majority to Bitmain, the China-based Bitcoin miner that has over 70% of the market share.

NEWS SOURCES:coindesk.com, techcrunch.com

Anthony Garreffa

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering and has recently taken a keen interest in artificial intelligence (AI) hardware.