{"id":167801,"date":"2018-01-30T12:24:57","date_gmt":"2018-01-30T12:24:57","guid":{"rendered":"https:\/\/wncen.com\/?p=167801"},"modified":"2024-06-11T07:40:57","modified_gmt":"2024-06-11T07:40:57","slug":"samsung-south-koreas-largest-company-manufacturing-asic-chips-bitcoin-mining","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/samsung-south-koreas-largest-company-manufacturing-asic-chips-bitcoin-mining\/","title":{"rendered":"Samsung is Manufacturing ASIC Chips For Bitcoin Mining"},"content":{"rendered":"
Samsung, the largest company in South Korea which is accountable for a large portion of the country\u2019s economy, has started the production phase of bitcoin and cryptocurrency mining equipment and ASIC mining chips. <\/span><\/p>\n
Local media outlets reported that Samsung partnered with a Chinese bitcoin mining equipment manufacturer last year and finished the development of its ASIC chips. Samsung, which operates one of the largest semi-conductor manufacturing plants in the world, will manufacture and supply cryptocurrency mining equipment to the Chinese market first.<\/span><\/p>\n
In the long-term, Samsung plans to expand its mining equipment venture from China to other regions like South Korea and Japan that have a stronger demand for cryptocurrencies than other countries.<\/span><\/p>\n
A Samsung spokesperson told local media that the company will operate a foundry to manufacture mining equipment and to match the supply requested by the Chinese bitcoin mining firm it has partnered with. In the beginning, Samsung said it will focus its venture on targeting the Chinese market and because Samsung has just started its foundry business, it is not unsure of the revenues its mining venture can generate.<\/span><\/p>\n
\u201cSamsung is operating a foundry that supplies a Chinese cryptocurrency mining firm with mining equipment and ASIC chips. Since Samsung has just begun its cryptocurrency mining venture, it is unsure of the revenues it can generate from it,\u201d a<\/span>\u00a0spokesperson said.<\/a><\/span><\/p><\/blockquote>\n