Samsung Is Working on ASIC Chips for Cryptocurrency Mining
Recently, we’ve spent a lot of time discussing the fact that the recent surge of interest in cryptocurrencies is making PC hardware more expensive for gamers and others seeking to build their own computers. Now, Samsung is attempting to remedy this issue a bit by creating ASIC chips which mine cryptocurrency.
Samsung told Tech Crunch that it was currently working on the new chips, but refused to give any additional details until the chips are ready. Currently, the majority of ASIC chips are made by the Chinese firms Bitmain and Canaan Creative. Both companies work with Taiwan’s TSMC in order to produce the chips.
The exact nature of Samsung’s role in the cryptocurrency-hardware market remains to be seen. We know that it will be competing with TSMC. The companies are already rivals in several other categories so the move likely isn’t too much of a surprise for either company. Rather or not it will be competing with Bitmain and Canann Creative remains to be seen.
Samsung’s entry into the ASIC market might be a bit surprising to some, but the move does make sense considering how large the cryptocurrency market has gotten in the past 12 months. That being said, when it comes to chips, Samsung’s bread and butter remains in the field of smartphones and we doubt ASIC will have much of an impact on the company’s overall profit margins.
Unfortunately, Samsung’s entry into the ASIC field won’t be of much help to gamers trying to build a new PC or upgrade an existing one. The main issue on that front lies in the area of GPUs which Samsung is not involved in. Nvidia and AMD have both announced that they will take steps to address the lack of supply, but AMD warned that such efforts were hindered by its difficulty in obtaining enough RAM.
Eric is an avid tech junkie, gamer, and comic fan. When he's not working on his PC, you'll find him at your local comic book shop.