Skip to main content

Samsung confirms it’s working on chips for cryptocurrency mining

A render of virtual currency.
Image used with permission by copyright holder
Just like everyone else on the planet, it looks like Samsung is getting in on the cryptocurrency business, by manufacturing ASIC chips designed specifically for mining those precious bitcoins. Or litecoins, or NEM tokens, or dogecoins, take your pick. Point is, one of the world’s largest chip manufacturers is muscling into the cryptocurrency mining industry.

“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.

According to TechCrunch, the move comes as part of a collaboration with a distribution partner in China. Other than that, there is not much to go on here, Samsung has remained tight-lipped about who it’s making the chips for, and to what end — other than their purpose as crypto-mining tools.

To clarify, Samsung isn’t making CPUs or GPUs for bitcoin mining, instead it is making application-specific integrated circuit or ASIC chips. Think of these as processors designed for one specific purpose, rather than the kind of general use processor inside your computer or smartphone. ASIC chips are made with particular uses in mind, and optimized to perform a single task very well and very efficiently. That’s why ASIC chips built for cryptocurrency mining are in such high demand. They get the job done because it’s the only job they’re built for.

Samsung getting in on this part of the cryptocurrency craze makes sense, since its a massive company with its snaking tendrils in hundreds of different businesses. Manufacturing ASIC chips for crypto mining isn’t much of a stretch for Samsung’s enormous manufacturing infrastructure. It is, however, big news for other ASIC chip manufacturers.

As TechCrunch points out, it’s not clear exactly where Samsung is going to fit into the cryptocurrency chip manufacturing business, but at the very least it’s putting itself in direct competition with some big players in chip manufacturing — namely, Taiwan Semiconductor Manufacturing Company, or TSMC.

As the world’s largest chip manufacturer, TSMC has made a comfortable niche in the cryptocurrency-facing ASIC chip market. We will have to wait and see what happens now that Samsung is jumping in with both feet — either way, it’s sure to make some waves.

Editors' Recommendations

Jayce Wagner
Former Digital Trends Contributor
A staff writer for the Computing section, Jayce covers a little bit of everything -- hardware, gaming, and occasionally VR.
Samsung confirms February Unpacked event for Galaxy S22
The rear panel of the Samsung Galaxy S21 Ultra.

Samsung has finally confirmed its long-rumored February Samsung Galaxy Unpacked event, its first major hardware launch event of 2022. There, the company is launching the next Galaxy series flagship -- the Samsung Galaxy S22 -- with rumors saying a Galaxy Tab S8 could also make an appearance. Samsung hasn't said precisely when the February Unpacked event is set for, but rumors have pointed to dates between February 8 and February 11.

Samsung's first Galaxy Unpacked Event of 2022 takes on a different role this year. With no Note series phone even expected, expectations are high as to what Samsung could do to wring excitement out of its regular, non-foldable smartphone launch.

Read more
Intel may be working on specialized chip for mining Bitcoin
A render of Intel's 12th-gen mobile processor.

Bitcoin mining is a controversial topic, but it seems that Intel may join the fray by releasing a chip designed specifically for that.

According to the latest rumors, Intel may be about to unveil a "Bonanza Mine" chip. The powerful chip would be used only for crypto mining and wouldn't present any value to casual users.

Read more
Samsung unveils new MRAM-based in-memory computing chip
Samsung logo sign at the Mobile World Congress.

Samsung has just revealed the world's first in-memory computing based on MRAM (magnetoresistive random access memory). The team described these innovative findings in a paper published by Nature.

The effort to combine memory and data computing into one is not a novel idea, but it has never before been executed with the use of MRAM. This successful MRAM breakthrough is the result of Samsung's effort to combine memory and system semiconductors into one, all with artificial intelligence in mind.

Read more