Samsung confirmed the production of cryptocurrencies mining chips

nRunaway Comment: South Korea’s technology giant Samsung responded to relevant reports, confirmed that in view of mining chip market demand, has begun production of encrypted currency mining ASIC. And mentioned that the customer is mainly a mining company in China, the specific chip and company details did not disclose. However, from its adopted chip rules, it is used for the latest configuration of high-end machines, and may be cryptocurrency mining to try out more advanced chips. Samsung joined the chip manufacturing, mining industry may have been more concentrated to bring quite intense competition.n
nTranslation: Annie_Xun
After reports, Samsung confirmed the start of production of chips dedicated to cryptocurrency mining.n
South Korean media The Bell first announced the news on January 30, saying the company has started production in January. Designed to provide an integrated circuit for a mining company in China.n
Company spokesman said:n
n”Samsung manufacturing operations have now been involved in cryptocurrency mining chip production.”n
nHowever, the South Korean technology giant did not provide details about customers or chips.n
However, in the company’s recent Q4 and FY17 reports, Samsung refers to the demand for crypto-currency mining and will provide 8nm and 11nm chips in 2018 and possibly “risk-taking” 7nm processes .n
Samsung’s move into bitcoin mining will undoubtedly bring competition to Chinese mining company Bitmain, which is targeting 70% of the market, using Taiwan-made TSMC ASICs.n

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