Samsung is a manufacturer of ASIC chips for bitcoin mining

January 30, 2018

Samsung is a manufacturer of ASIC chips for bitcoin mining

Samsung is a manufacturer of ASIC chips for bitcoin mining

Samsung, the largest company in South Korea, which accountable for a significant part of the economy, started the production phase of the equipment for bitcoin and cryptocurrency mining and ASIC chips.

Local media reported that Samsung last year collaborated with a Chinese manufacturer of equipment for the production of beef in bitcoin and has completed the development of its ASIC chips. Samsung, which manages one of the largest semiconductor factories in the world, primarily to produce and supply equipment for cryptanalytic the Chinese market.

In the long term, Samsung is planning to expand its production enterprise of mining equipment from China to other regions such as South Korea and Japan, which have higher demand for cryptotermes than other countries.

Press-Secretary Samsung told local media that the company will manage the foundry shop for the production of mining equipment and in accordance with the proposal, requested the Chinese mining firm that has partnered. Initially, Samsung said it will concentrate the company targeting the Chinese market, and since Samsung has just launched the foundry business, he was not sure of the income that might generate a mining company.

In the coming months, Samsung also intends to make the miners racing for miners, aimed at small cryptomeria.

Hwang Min-sung, analyst at Samsung Securities, told local media that Samsung will be able to increase their income through the production of ASIC chips. But until then, until the company will expand its enterprise on the international level, for units Samsung for the production of ASIC chips will be difficult to affect the income of Samsung Electronics.