Samsung to Enter Bitcoin Mining Industry, Set to Mass Produce ASIC Miners this January

Samsung Electronics is reaching out to the Bitcoin mining industry. Samsung Electronics has concluded a foundry contract with China Bitcoin mining hardware maker, and it is confirmed that it started mass production from January.

According to Samsung Electronics and related industries on the 29th, Samsung Electronics completed the process development of semiconductor ASIC (Application Specific Integrated Circuit) for Bitcoin mining last year, and started mass production from January.

Samsung Electronics spokesperson shares:

“We are in the middle of a foundry business that is being supplied to a virtual money mining company in China”.

The ASIC, which Samsung Electronics began mass production, is an on-demand semiconductor designed in a way optimized for Bitcoin mining.

Bitcoin mining requires high-speed, energy-efficient hardware. As a result, companies that mined Bitcoin in large quantities have commissioned dedicated ASIC chips tailored to their respective mining operations and installed them in mining equipment. Source