Samsung, the largest company in South Korea, has begun to produce specialized hardware for extraction of Bitcoin and another crypto as well as ASIC chips.
Local media reported that Samsung has partnered with a Chinese manufacturer of specialized hardware for the production of digital currencies and has completed the development of its ASIC chips. In the long run, Samsung plans to expand its production of digital currencies in China and other regions such as South Korea and Japan, where there is more demand for crypto than other countries. Samsung spokesman told local media that the company will use a foundry to produce digital currency hardware and supply the specialized hardware of the Chinese Bitcoin mining company with which it is a partner. The spokesman said:
"Samsung is working with a foundry that currently produces ASIC chips. Since Samsung has just launched its enterprise for specialized hardware for Bitcoin extraction, they are not sure the revenue it can generate from it. "
In the coming months, Samsung also intends to produce GPU hardware for miners that produce small crypto. Samsung has large-scale factories that can produce orders of any size. Since last year, the company has been the only supplier of OLED screens for the Apple X production line since it is the only company capable of meeting Apple's needs.
At present, TSMC in Taiwan remains the only major semiconductor manufacturer to meet the needs of the major manufacturer of Bitmain digital mining hardware.
Juan Ming-seong, an analyst at Samsung, told local media that Samsung will be able to increase its revenue by producing ASIC chips. But while the company is not expanding on a steady scale, it will be hard for Samsung's ASIC chip production division to have a major impact on Samsung Electronics's revenue.
"Samsung Electronics could increase its revenue through the production of ASIC chips, but because the foundry is only a small part of the company's semiconductor production base, it can hardly be predicted that the production of specialized hardware for the extraction of digital currencies will leave a significant impact on the company's revenue. "
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