Samsung to make cryptocurrency mining chip

Cryptocurrency mining has been given a boost with the revelation that Samsung is working on chip just for that purpose.

A report by TechCrunch stated that Samsung has started manufacturing ASIC chips for cryptocurrency mining.

“Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips. However we are unable to disclose further details regarding our customers,” a Samsung spokesperson told TechCrunch.

This is an interesting development, especially as GPU vendors NVIDIA and AMD are distancing their cards for mining usage.

Both vendors’ cards are flying off the shelf because miners are buying them in bulk, resulting in a price hike in some instances. Needless to say, gamers are unhappy and NVIDIA has even come up front to state that “gamers come first”.

But this doesn’t seem to have deterred Samsung, which recently overtook Intel as the world’s biggest chipmaker. It seems to present the Korean giant with a massive window of opportunity.

With cryptocurrency mining being such a craze, it looks like Samsung may be the ones reaping financial benefits.