Samsung has confirmed that the company is in the process of making hardware specially designed for mining cryptocurrencies like Bitcoin and Ethereum. These chips are called Application-Specific Integrated Circuits (ASICs). ASICs are specially designed processors for a single computational task, unlike the multi-purpose processors used in computers and smartphones these days.
As soon as Bitcoin and other cryptocurrencies have cited a surge in price last year, the demand for these sorts of chips has also increased. Cryptocurrencies are mined in a complex manner. For instance, Bitcoin is created by solving mathematical problems, with these calculations the integrity of Bitcoin transactions is also maintained. The miners have moved on from integrated graphics cards to GPUs (specifically used for heavy game processing). And now these specially designed ASICs are taking crypto mining to a whole new level.
Furthermore, no info has been revealed on what sort of products Samsung will be making, but according to reports from Korean media, it’ll be working with Taiwanese firm TSMC to manufacture these chips. TSMC currently supplies chips for a number of firms set up purely to mine cryptocurrencies, including Bitmain a popular Chinese firm.
You can read more about it on the following link:
https://www.techjuice.pk/samsung-designing-chips-cryptocurrency-mining/