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Samsung’s now making chips designed for cryptocurrency mining

Samsung’s semiconductor industry is booming, with the corporate not too long ago overtaking Intel because the global’s greatest chipmaker. But the South Korean company isn't resting on its laurels, and is lately taking a look to increase into the buzziest recent marketplace for processors: cryptocurrency mining.

As reported by way of TechCrunch, Samsung has showed it’s within the means of making specifically designed for mining cryptocurrencies like Bitcoin and Ethereum. A spokesperson for the company instructed TechCrunch: “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.”

These chips are referred to as ASICs, or application-specific built-in circuits. ASICs are processors which have been specifically designed for a unmarried computational process, versus the multi-purpose processors we use in computer systems and telephones.

As the valuation of cryptocurrencies has shot up, so has the call for for those forms of chips. In the case of Bitcoin, the foreign money is created by way of fixing mathematical issues, with those calculations additionally keeping up the integrity of Bitcoin transactions. As extra bitcoins are mined, those math issues grow to be increasingly more tricky. This has resulted in miners shifting on from the usage of standard built-in graphics playing cards, to GPUs designed for gaming, and now to specially-built ASICs.

It’s now not transparent precisely what kind of merchandise Samsung shall be making, however in line with experiences from Korean media, it’ll be operating with Taiwanese company TSMC. The corporate lately provides chips for plenty of corporations arrange only to mine cryptocurrencies, together with the China-based Bitmain. Meeting the call for for those chips has added round $350 million to $400 million to its quarterly earnings, says TSMC.

That’s not anything to be sniffed at, however it’s a small sum in comparison to the $69 billion earnings generated yearly by way of Samsung’s chip industry. Mining cryptocurrencies is buzzy, however that doesn’t imply it’ll be extraordinarily successful for the ones promoting silicon shovels.

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