Samsung confirms production of cryptocurrency mining chips

Rage Comment : South Korean technology giant Samsung responded to relevant reports, confirming that in view of the market demand for mining chips, it has begun to produce cryptocurrency mining integrated circuits. It also mentioned that the main customer this time is a Chinese mining company, and the specific chips and company details were not disclosed. However, judging from the chip specifications it uses, they are all the latest configurations for mid-to-high-end machines, and it is possible that more advanced chips are being trial-produced for cryptocurrency mining. Samsung's entry into chip manufacturing may bring quite fierce competition to the originally concentrated mining industry.

Translation: Annie_Xu

Following related reports, Samsung confirmed that it has begun producing chips dedicated to cryptocurrency mining.

The South Korean media The Bell first announced the news on January 30, saying that the company had already started production in January. It aims to provide special integrated circuits for a mining company in China.

A company spokesperson said:

"Samsung's manufacturing business is currently involved in the production of cryptocurrency mining chips."

However, the South Korean tech giant did not provide details about the customers or the chips.

However, in the company’s recent fourth quarter and fiscal year 2017 report, Samsung mentioned the demand in the field of cryptocurrency mining, for which it will provide 8nm and 11nm chips in 2018, and may "risk production" of 7nm chips.

Samsung’s move into bitcoin mining will undoubtedly bring competition to Chinese mining firm Bitmain, which is targeting a 70% market share using application-specific integrated circuits from Taiwanese manufacturer TSMC.