Samsung Confirms It's Now Making Crypto Mining Chips
Samsung has confirmed it is now manufacturing cryptocurrency mining chips after reports earlier this week.
Samsung has confirmed it is now manufacturing specialized cryptocurrency mining chips after reports to that effect surfaced this week.
South Korean news outlet The Bell first revealed the news on Jan. 30, stating that Samsung was kicking off manufacturing in January, aiming to provide application-specific integrated circuits (ASICs) to an unnamed Chinese mining firm.
A company spokesperson has since told TechCrunch:
"Samsung's foundry business is currently engaged in the manufacturing cryptocurrency mining chips."
The South Korean tech giant, however, did not provide any details on its customers or the chips, TechCrunch states.
Still, in its recent fourth quarter and fiscal year 2017 results report yesterday, Samsung talked about the growing demand for cryptocurrency mining, stating that in 2018 it will provide 8nm and 11nm processors to meet market needs, as well as start a "risk production" of 7nm chips.
Samsung's move into the cryptocurrency mining space will undoubtedly bring serious competition to China-based Bitmain, which claims to hold over 70 percent of the market share and uses ASICS from Taiwanese manufacturer TSMC.
Samsung building image via Shutterstock
More For You
What to know:
- As of October 2025, GoPlus has generated $4.7M in total revenue across its product lines. The GoPlus App is the primary revenue driver, contributing $2.5M (approx. 53%), followed by the SafeToken Protocol at $1.7M.
- GoPlus Intelligence's Token Security API averaged 717 million monthly calls year-to-date in 2025 , with a peak of nearly 1 billion calls in February 2025. Total blockchain-level requests, including transaction simulations, averaged an additional 350 million per month.
- Since its January 2025 launch , the $GPS token has registered over $5B in total spot volume and $10B in derivatives volume in 2025. Monthly spot volume peaked in March 2025 at over $1.1B , while derivatives volume peaked the same month at over $4B.
More For You
Coinbase Sees Crypto Recovery Ahead as Liquidity Improves and Fed Rate Cut Odds Climb
The crypto exchange also took note of a so-called AI bubble that continues to go strong and a weaker U.S. dollar.
What to know:
- Coinbase Institutional is seeing a potential December recovery in crypto, citing improving liquidity and a shift in macroeconomic conditions that could favor risk assets like bitcoin.
- The firm's optimism is driven by rising odds of Federal Reserve rate cuts, with markets pricing in a 93% chance easing next week, and improving liquidity conditions.
- Several recent institutional developments, including Vanguard's crypto ETF policy reversal and Bank of America's greenlighting of crypto allocations, have contributed to bitcoin's rebound from recent lows.
