Samsung Starts Manufacture of Chips For Bitcoin Mining

Samsung, the multinational South Korean technology conglomerate is reportedly designing and manufacturing chips for mining Bitcoin (BTC).

As reported by CryptoDaily, the general manager for Samsung Foundries China revealed last month that the company had designed 2nm and 5nm chips for Bitcoin mining. According to internal documents from the firm, Samsung has been working on these since the beginning of last year.

Backing these statements up, Samsung publicly announced a strategic partnership with MicroBT, the third-largest designer of Bitcoin ASICs.

Samsung Deep in Blockchain

Samsung’s move into Bitcoin mining actually shouldn’t come as a surprise, considering the fact that Samsung is the second-largest semiconductor company in the world.

Also, Samsung is an obvious proponent for cryptocurrency, as the tech giant is releasing a new Galaxy S10 smartphone with support for storing cryptocurrency private keys.

As previously reported by IIB, the phone supports Ethereum (ETH), ERC-20 tokens, and ERC-721 collectible tokens. Moreover, Samsung is also rumored to be developing its own cryptocurrency potentially on the Ethereum blockchain.

All in all, it’s clear that Samsung is open to new innovations presented by blockchain technology and cryptocurrencies.

Do you think Apple and other tech giant are exploring blockchain and crypto as well, but more secretively? Let us know what you think in the comment section below.