This essay has been submitted by a student. This is not an example of the work written by professional essay writers.

Samsung Starts Making Crypto-currency Mining Chips

downloadDownload printPrint

Pssst… we can write an original essay just for you.

Any subject. Any type of essay. We’ll even meet a 3-hour deadline.

Get your price

121 writers online

Download PDF

Samsung enters crypto-currency chips business The South Korean company overtook Intel to become the biggest chipmaker last year. Samsung Electronics has revealed in its latest earnings report of making chips designed specifically to set crypto hardware business with the intention to increase revenues.

In the reports Samsung forecast strong demand for its forthcoming Galaxy S9 smartphone, which is due to be revealed on 25 February 2018. Samsung Electronic’s fourth quarter net profit totaled 12.3tn won ($11.5bn; £8.1bn), which was roughly in line with analysts’ expectations. But its shares jumped nearly 9% after the company revealed that it was splitting its stock 50-to-1, which should encourage trade in the asset.

ASIC’s advantage

Samsung is providing little explanation about its new business. In a statement given to an international news agency the Samsung officials said: “Samsung’s foundry business is currently engaged in the manufacturing of crypto-currency mining chips,” “However we are unable to disclose further details regarding our customers.”

Bitcoin – the Revenue comes calling

Mining is the solving complex mathematical problems as a means to verify crypto-currency transactions – a task for which the owners of the computers involved are rewarded with new digital “coins”. The Bell, a Korean-language newspaper, has reported that the processors involved are ASIC (application-specific integrated circuit) chips.

These chips are not able to perform general computing operations and are custom-designed “mining” Bitcoin or another specific crypto-currency. Previously these chips were associated with the TV industry. But in 2013, am American based business owner start selling processors custom-designed for Bitcoin mining with promise of better performance and lower energy use than GPU (graphics processing unit) chips, which are still more commonly associated with the task.

In last quarter of 2017 a shortage of high-end GPU cards has dragged their prices, making the rival ASIC technology even more attractive. Taiwan’s TSMC was the only other major processor-manufacturer engaged in the activity but now, according to The Bell, Samsung completed development of its own Bitcoin-related ASIC chip last year and began mass production earlier this month.

Garrick Hileman, a crypto-currency researcher from the University of Cambridge said: “We don’t know how low Samsung can sell its chip for and still be profitable,” “But if Bitcoin’s price were to collapse and enter a bear market like in 2014 to 2015, one would wonder if Samsung would stay with this line of business through such a turn.” Another expert elucidated that Samsung’s move represented a bet that Bitcoin’s rise in value does not represent a bubble that is about to burst.

Remember: This is just a sample from a fellow student.

Your time is important. Let us write you an essay from scratch

experts 450+ experts on 30 subjects ready to help you just now

delivery Starting from 3 hours delivery

Find Free Essays

We provide you with original essay samples, perfect formatting and styling

Cite this Essay

To export a reference to this article please select a referencing style below:

Samsung Starts Making Crypto-Currency Mining Chips. (2019, March 12). GradesFixer. Retrieved January 29, 2022, from
“Samsung Starts Making Crypto-Currency Mining Chips.” GradesFixer, 12 Mar. 2019,
Samsung Starts Making Crypto-Currency Mining Chips. [online]. Available at: <> [Accessed 29 Jan. 2022].
Samsung Starts Making Crypto-Currency Mining Chips [Internet]. GradesFixer. 2019 Mar 12 [cited 2022 Jan 29]. Available from:
copy to clipboard

Sorry, copying is not allowed on our website. If you’d like this or any other sample, we’ll happily email it to you.

    By clicking “Send”, you agree to our Terms of service and Privacy statement. We will occasionally send you account related emails.


    Attention! This essay is not unique. You can get a 100% Plagiarism-FREE one in 30 sec

    Receive a 100% plagiarism-free essay on your email just for $4.99
    get unique paper
    *Public papers are open and may contain not unique content
    download public sample

    Sorry, we could not paraphrase this essay. Our professional writers can rewrite it and get you a unique paper.



    Please check your inbox.

    Want us to write one just for you? We can custom edit this essay into an original, 100% plagiarism free essay.

    thanks-icon Order now

    Hi there!

    Are you interested in getting a customized paper?

    Check it out!
    Having trouble finding the perfect essay? We’ve got you covered. Hire a writer

    Haven't found the right essay?

    Get an expert to write you the one you need!


    Professional writers and researchers


    Sources and citation are provided


    3 hour delivery