Samsung is known for manufacturing chipsets – just look at its Exynos chips in Galaxy smartphones – and it seems the South Korean giant wants to cash in on the current cryptocurrency craze.

While for many that could be interpreted as graphics cards the firm is instead looking at creating chips for application-specific integrated-circuit miners more commonly known as ASIC miners.

A Samsung spokesperson confirmed the news to Techcrunch.

“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,” the spokesperson said.

So much like TSMC Samsung will simply produce the chips that will be used in ASIC miners. We do wonder whether Samsung will leverage the size of its foundry to manufacture an abundance of ASIC specific chips in a bid to lower the cost of these miners.

Right now ASIC miners are incredibly expensive and the fact that they can often only mine coins from a specific chain makes them far less attractive to those looking to get their hands on some sweet sweet crypto.

We’re going to keep an eye on Samsung and the price of ASIC miners in the coming the months and who knows, maybe miners become cheaper than GPUs and we can start buying GPUs for gaming again.

If you need a quick primer about what exactly ASICs are and what the pros and cons of these machines are is best explained by local YouTubers UFD Tech (who we interviewed last year) in this video and this video.

[Image – CC BY 0 Pixabay]
Brendyn Lotz writes news, reviews, and opinion pieces for Hypertext. His interests include SMEs, innovation on the African continent, cybersecurity, blockchain, games, geek culture and YouTube.