Samsung starts manufacturing chips to mine bitcoin

It seems that another company is adding to the fashion of cryptocurrencies. Because Samsung has just started producing ASIC chips for mining Bitcoin and other cryptocurrencies. For those who do not know them, ASICs are circuits developed to carry out a specific function. In this case, such a function would be Bitcoin mining. In this way, the Korean multinational follows in the footsteps of other companies such as Kodak.

Samsung begins manufacturing chips to mine Bitcoin

In this case, the chips the company makes will be used by a Chinese manufacturer specialized in creating mining equipment. Although the name of this company has not been revealed so far. But they will be in charge of distributing these Samsung chips.

Samsung is also betting on cryptocurrencies

Apparently, according to various local media, the agreement was closed at the end of last year. As a result of this alliance between companies, these chips emerge. It looks like everything is ready for mass production to start. In addition, the Korean company itself has confirmed that they are going to allocate one of its foundries to the manufacture of these ASIC chips.

The chips will only be sold in China in a first phase. Although it is expected that they will also reach South Korea and Japan soon after. But it looks like it's going to focus only on the Asian market, at least for now. Since the company has commented that they do not know how many benefits they will obtain. So if things turn out well, they may continue to bet on the cryptocurrency market.

Although it seems that Samsung's plans go through having more presence in this market. Since they are also rumored to want to produce GPUs dedicated exclusively to cryptocurrency mining.

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