Samsung is now manufacturing chips for mining Cryptocurrency

Samsung is the biggest cell phones producer on the planet and according to the company's latest financial result for the year 2017, the organization earned a benefit of around $50 billion all in all. The report additionally uncovered that Samsung's semiconductor business is shaking, with the organization as of late beating Intel as the world's greatest chipmaker. Starting at now, it would appear that the South Korean firm is extending its chipsets business by entering cryptocurrency mining market.

Samsung has affirmed that the organization is making equipment extraordinarily intended for mining digital forms of money like Bitcoin and Ethereum, as revealed by TechCrunch. These chips are called Application-Specific Integrated Circuits (ASICs). ASICs are extraordinarily composed processors for a solitary computational errand, not at all like the multi-reason processors utilized as a part of PCs and cell phones nowadays.

As indicated by the organization's representative,

“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.”

When Bitcoin and different digital currencies have referred to a surge in cost a year ago, the interest for these sorts of chips has additionally expanded. Digital currencies are mined in an intricate way. For example, Bitcoin is made by taking care of numerical issues, with these computations the trustworthiness of Bitcoin exchanges is additionally kept up. The diggers have proceeded onward from coordinated designs cards to GPUs (particularly utilized for substantial diversion handling). What's more, now these exceptionally composed ASICs are taking crypto mining to an unheard level.

Besides, no data has been uncovered on what kind of items Samsung will make, however as per reports from Korean media, it'll be working with Taiwanese firm TSMC to make these chips. TSMC presently supplies chips for various firms set up simply to mine cryptographic forms of money, including Bitmain a mainstream Chinese firm.

Creating chips for mining digital forms of money appears to be energizing, yet that doesn't mean it'll be to a great degree gainful for monsters like Samsung, which has officially made $69 billion in income in 2017 for silicon chip business.