Samsung Manufacturing ASIC Chips For Cryptocurrency Mining

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Samsung Manufacturing ASIC Chips For Cryptocurrency Mining

The sudden surge of Cryptocurrency mining has caused the GPUs to become scarce and even if there are any GPUs available, they are being sold for price way higher from their MSRP, however, as we discussed before that ASIC Miner might be the solution, and Samsung has started to manufacture its own ASIC chips.

Samsung has announced that it will be manufacturing ASIC Chips for one purpose which is to mine Cryptocurrency. However, the company refrained itself from revealing any details.

“Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips. However, we are unable to disclose further details regarding our customers.

For those who don’t know, ASIC chips are actually “application-specific integrated circuits” and these chips aren’t as flexible as GPUs or CPUs in terms of performing tasks as these chips are designed for a single, narrow computational task, in this case, Cryptocurrency mining.

The recent boom in Cryptocurrency mining has caused a shortage of GPUs in the market because the miners have been using as many GPUs as possible to mine bitcoins and other digital currencies.

However, the more coins are mined, especially in the case of Bitcoin, the math problem becomes increasingly difficult to solve to generate more coins.

This is the very reason that will render the GPUs useless for mining the cryptocurrency and it makes sense that these miners should stop using GPUs to mine the digital currency and instead use the ASIC Chips which are designed and manufactured for one reason only and that is to mine Bitcoins and other digital currencies.

In related news, recently, Japanese real estate company Yitanz revealed that the company has sold a small commercial building in Tokyo for 547 bitcoins which is currently is equivalent to $ 6 million.

Do you think Samsung manufacturing ASIC Chips will cause miners to drop GPUs and use these chips for mining? Will it have any impact on GPU shortage? Let us know in the comments.

Source: TechCrunch