Samsung meets cryptocurrency with chips for mining Bitcoin

That clinking, clanking sound, it makes the world go ‘spherical. And apparently Samsung’s not deaf to it.

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You are not the one one who desires of cashing in on cryptocurrency mania. Samsung’s proper there with you.

In its fourth-quarter earnings report Wednesday, the consumer-electronics purveyor and world’s largest chipmaker by income mentioned it expects its foundry enterprise to get a bump-up from “rising demand for cryptocurrency mining chips.”

It additionally confirmed, individually, that it is making such chips.

“Samsung’s foundry enterprise is at the moment engaged within the manufacturing of cryptocurrency mining chips,” the corporate mentioned in an announcement despatched to varied media shops. “Nevertheless, we’re unable to reveal additional particulars concerning our clients.”

Mining for cryptocurrencies like Bitcoin means placing your pc to work fixing thorny math issues that’re used to confirm cryptocurrency transactions. In return in your gobs of processing energy, you might be rewarded with cash.

And with some cryptocurrencies value 1000’s of dollars per coin, and big hype across the phenomenon, it is no shock a rush of gold diggers are pumping up their pc techniques with high-powered chips to get in on the act.

In reality, regardless of a dip within the worth of Bitcoin, issues have gotten so frenzied that pc players who need to make home-brew techniques for enjoying Name of Obligation (or no matter) are having a tricky time getting maintain of graphics playing cards. It appears the playing cards have turned out to be nice for mining cryptocurrencies like Ethereum.

The Samsung chips in query are ASIC, or application-specific built-in circuit, chips, the BBC experiences, pointing to the Korean-language newspaper The Bell. ASIC chips might be personalized for a selected use.

In hopping onto the crypto bandwagon, Samsung joins corporations like Kodak, which earlier this month introduced a cryptocurrency-based service designed to assist shutterbugs receives a commission when their photographs are used with no license. And the place there’s cash, there’s monkey enterprise: Fb mentioned Wednesday that it is briefly banning cryptocurrency adverts on the social community to guard folks from scams.

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