Is Samsung manufacturing cryptocurrency mining hardware?

Samsung could be the latest technology player to enter the blockchain juggernaut. The company has reportedly started manufacturing ASIC (application-specific integrated circuit) hardware specialized for Bitcoin and cryptocurrency mining.

According to a report that has come out in the open, the deal will see Samsung supply an unnamed Chinese mining equipment provider with the necessary hardware starting from January. The Chinese-based partner will then distribute the chips. It also states that Samsung is ready to start mass production by the end of January and will be involved in this collaboration as a foundry operator.

The South Korean tech giant is said to have previously shown interest in entering the blockchain hardware space. In fact, the company has reportedly signed an agreement with Russian-based Bitcoin mining hardware firm Baikal that would see Samsung supply them with ASIC chips.

This development could certainly stir up the mining hardware space and encourage competitors like Canaan Creative and Bitmain (both of which get their chips from Taiwan’s TSMC) to step up their efforts.

However, Samsung is not the only company that is foraying into the mining hardware industry. Kodak has also revealed its own mining contraption in January.

Tags: Samsung manufacturing cryptocurrency mining hardware, samsung, samsung cryptocurrency, samsung blockchain juggernaut, blockchain, asic, Bitcoin, cryptocurrency mining, kodak, varindia,