Samsung is Making Computer Chips Specifically for Cryptocurrency Mining

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Samsung has recently stated that their semiconductor business has been booming ever since the cryptocurrency market has caused a shortage in it. The South Korean firm is not resting on this benefit, they have been taking full advantage of it. Samsung has stated that their process of making hardware for computer chips could potentially be curved to specifically make chips for the purpose of mini cryptocurrency. They stated recently that “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.”



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The chips are known as ASICs, or application-specific integrated circuits. These are processors that are only designed for one specific task, and in this case that task would be mining. With the valuation of the cryptocurrency world rising at an incredibly high rate, it seems only fair that some company would be able to make a chip to specifically benefit that market. For those who don’t know, mining is the process in which transactions are put through on any crypto network. When someone buys or sells a coin, a computational problem needs to be solved by a miner in order for it to go through. Once the transaction is put through, the miner is rewarded with a certain amount of cryptocurrency, thus the incentive to mine currency.



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The company has yet to state too many specifics in this industry and what sort of products they will make that uses this type of chip, but it is clear that they do want to begin making them as soon as possible. Given that the market on cryptocurrency has only been around for a limited time, companies have only now been able to catch up with trying to build infrastructure to continue its proliferation.

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