15 April 2018 - Staff Reporter :-
South Korean electronic giant Samsung is making special chips for cryptocurrency.
The company has released this information in its latest financial report. This report is mentioned in the report as the profit of the company has increased. Along with this, the company has surpassed US chip giant Intel in the chip manufacturing sector in 2017, the BBC reported.
Expectancy of the upcoming Galaxy S9 will be the high demand for smartphones Samsung The smartphone will be unveiled on February 25th.
In the last quarter of 2010, Samsung Electronics has a net profit of 12.3 trillion won ($ 1150 billion), the approximation of analysts' estimates.
Samsung has released very little information about the new cryptococcern business. In a statement, the company said to the British media, "Samsung's factory business is currently busy making the cryptography sector chip."
"However, we can not disclose details about our customers right now."
Daily Bell of the Korean language said in a report, in this process, the ASIC (Application-specific Integrated Circuit) chips is involved.
These chips are specially designed to accomplish a task. These chips will be used for cryptrocessing mining. Samsung has concluded its Bitcoin related ascic chip in 2017 and it is expected to start production in a bigger range earlier this month, according to the daily report.
Until then, the only major organization to produce the processor was TSMC in Taiwan, according to the BBC's report.