Samsung recently surpassed Intel as the world’s biggest seller of chipsets and has now confirmed that it has begun manufacturing ASIC chips which are used to mine Bitcoin and other cryptocurrencies.
A company spokesperson told TechCrunch “Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips.”
The statement follows reports in Korea media which claimed that the tech giant had made the move in collaboration with an unnamed Chinese distribution partner. Samsung already produces high-capacity memory chips for GPUs, which are conventionally used to handle graphics on computers but are also deployed for mining purposes.
Regarding Samsung’s bottom line, the Korean firm booked an incredible $69B in chip sales in 2017 thanks mainly to the smartphone industry.