Samsung’s chipsets business is touching new heights, with the company overtaking Intel as the world’s biggest chipmaker. And the company is now expanding its business in to the market of 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 spokesperson for the firm said.
Known as ASICs or the application-specific integrated circuits, these processors are specially designed for a single computational task, as opposed to the multi-purpose processors used in computers and phones.
The demand for ASIC chips has shot up recently, as in the case of bitcoin, the cryptocurrency is created by solving mathematical problems. More the bitcoins are mined, more these math problems become difficult. This has led to miners switching from using graphics cards, to GPUs designed for gaming, and now to specially built ASICs.