Samsung has confirmed that it has begun manufacturing AISC chips for mining Cryptocurrency such as BITCOIN, ETHEREUM among others. This confirmation follows certain reports from South Korea that hinted towards this development. A report claims that they have partnered with Chinese bitcoin hardware makers and mass production will be starting soon.

Samsung’s foundry business has started development on Application Specific Integrated Circuit (ASIC) chips that will be used in the process of manufacturing Cryptocurrency chips.

Currently, China’s Bitmain and Canaan Creative dominate this space, with both companies partnering with Taiwanese chipmaker TSMC. A QZ reports notes that cryptocurrency mining added more than $350 million revenue for TSMC in last quarter.

Highly energy efficient hardware is required for mining Cryptocurrency, that can be done with the help of AISC chips that Samsung is planning to make to market in coming future.
It is still unclear that where Samsung is expected to fit into expanding Cryptocurrency market. However, it will be huge competition for TSMC when it comes to manufacturing these custom made “chips”