New reports from last week hit South Korean outlet The Bell, where they reported Samsung had started manufacturing ASICs that they would provide to a Chinese mining firm, that is anonymous for now. A company spokesperson has told TechCrunch that "Samsung's foundry business is currently engaged in the manufacturing cryptocurrency mining chips". This is gigantic news as right now, TSMC is the king of ASIC miners that they ship a large majority to Bitmain, the China-based Bitcoin miner that has over 70% of the market share.
[caption id="attachment_2551" align="aligncenter" width="620"]Samsung Picture: Official Samsung Logo[/caption]

The news could be really a big thing because mining chips on such a huge level could change everything. Samsung refuses to discuss its specific partners. Previous reports claim it’s a Chinese firm, which would make sense. The low-cost of electricity in china has made it a hub of cryptocurrency mining. The unnamed partner would need to buy a substantial number of chips to affect Samsung’s bottom line. The company brought in $69 billion in chip sales last year, most of which were used in smartphones. That was the largest chunk of its revenue; even more than smartphone sales.

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