Samsung will release chips for ASIC miners – media

The South Korean corporation Samsung announced its intention to start producing equipment for mining bitcoin and other cryptocurrencies. Writes about this NewsBTC and the local edition of TheBell.

According to the publication, Samsung entered into an agreement with a Chinese manufacturer of Bitcoin mining equipment last year and has now completed the development of its own ASIC chip..

Initially, the corporation will be focused on the Chinese market, but in the future it plans to carry out sales also in South Korea and Japan..

“Samsung opens a facility to supply Chinese mining firms with hardware and ASIC chips. Since Samsung is just getting started in this business, it is difficult to say how much profit it will bring, ”said a company spokesman..

In the coming months, Samsung also expects to launch GPU miners designed to mine smaller cryptocurrencies..

As noted by NewsBTC, the company has significant semiconductor manufacturing facilities. Samsung has been the exclusive supplier of OLED displays for the iPhone X since last year, as the Korean corporation was the only manufacturer able to meet Apple’s demand.

Hwang Min Sung, an analyst at Samsung Securities, said Samsung expects to increase its profits by selling cryptocurrency mining equipment. But until this business reaches the international level, it is unlikely that it will affect the profitability of Samsung Electronics, he explained..

Recall that earlier Samsung introduced a bitcoin mining farm assembled from Galaxy S5 smartphones.

Similar articles

• CEO Circle: There is a place for Libra in the world of digital assets…

  CEO Circle: There will be a place in the world of digital assets for both Libra and Bitcoin CEO of Circle, which owns the Poloniex cryptocurrency exchange and…

• NATO equipment supplier to build largest bitcoin farm…

  NATO equipment supplier to build UK’s largest bitcoin farm British computer equipment supplier Bladetec announced…

• Nassim Taleb: The banking situation in Lebanon is the best advertisement for…

  Nassim Taleb: Lebanese banking situation is the best advertisement for bitcoin Bitcoin supporters urge Lebanese people to transfer their fiat currency…