Samsung announced a deal on Monday, Jan. 29 to manufacture hardware with manufacturer TSMC. “Mass production” of the ASIC chip has already begun in January, according to Korean news outlet .
An chip, which stands for Application-Specific Integrated Circuit, is a specialized piece of hardware designed to only mine cryptocurrencies based on a specific hashing algorithm, such as or Scrypt (which and run on, respectively). It makes up part of a crypto mining device.
TSMC supplies the ASIC chips needed for cryptocurrency mining to , a China-based bitcoin mining company. Bitmain also manufactures its own hardware, having in September 2017 to relatively negative fanfare as well as an of a miner on Jan. 19.
In regards to the profitability of Samsung entering the crypto mining market, Hwang Min-seong, an analyst at Samsung Securities, told The Bell:
“Samsung Electronics could increase its revenues through ASIC chip manufacturing but because the foundry only accounts for a small portion of the company’s semi-conductor manufacturing plant, it is difficult to predict that the firm’s mining venture will have a significant impact on the company’s revenues.”
South Korea-based Samsung’s deal with TSMC comes after a turbulent month in the crypto markets in Asia, with in China and and confusion over regulation in South Korea leading to .
Published at Tue, 30 Jan 2018 17:18:12 +0000
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