Samsung is now working to make chips specifically designed for cryptocurrency mining

The Board of Directors of Samsung Electronics resolved to implement a 50:1 stock split which will set price of one share at about 50,000 won from 2.5 million won

The possible advantage of running a Samsung chipset for the goal of cryptocurrency mining will be that since these chips are made on the 10nm architecture, they will be very efficient, heat up less and consume less power.

The upbeat outlook from the world's biggest maker of memory chips comes as investors look for signs of an end to the massive expansion in the global semiconductor business that has driven profits at chipmakers in recent years.

For readers information, Samsung is not making CPUs or GPUs for bitcoin mining, it is only making application-specific integrated circuit or ASIC chips. ASICs are processors that have been specially designed for a single computational task, as opposed to the multi-purpose processors we use in computers and phones.

Major cryptocurrency mining companies are operating from China where electricity is cheaper.

"In the first quarter, earnings are expected to rise on the ramp-up of 2nd generation 10nm process products for this year's flagship smartphones and growing demand for cryptocurrency mining chips". Companies engaged in large scale mining frequently use ASIC chips to create separate mining setups.

As the valuation of cryptocurrencies has shot up, so has the demand for these sorts of chips.

Initially, almost anyone could mine Bitcoin using their home computer.




Samsung is already working on its 10-nanometer 16Gb GDDR6 DRAM chips. Last October, it showed off a bitcoin mining cluster consisting of 40 Galaxy S5 handsets as part of its upcycling initiative.

Samsung expects its Foundry division to eventually be so valuable that it will soon amount to the company's number two most profitable business.

Cryptocurrency fever has gripped the world this year, with bitcoin now trading roughly at $10,000, almost 10 times its price this time last year.

The iPhone X is the first smartphone from Apple to feature an OLED display and since Samsung has a near monopoly in the smartphone OLED panel market, it's the only supplier that can produce OLED displays at a volume not only for itself but for customers like Apple.

Samsung also sees a bump in its revenue in the near future due to this new development considering how much of a craze cryptocurrency mining has become. However, Samsung has the ability to uplift and enhance this industry.

This could make Samsung a very serious competitor to Chinese companies such as Bitmain, Canaan and the USA -based Bitfury.

Related news:

Hot News

isis-killer-beheading-video-story-top Fox turns lower after locking up Thursday NFL for $3B
Feb 02, 2018 - 09:59
According to live+same day primetime ratings from January 25, 2018, Fox lagged behind ABC, CBS and NBC. Both CBS and NBC are said to have lost money on the Thursday games. "Hard to recover in four days".

isis-killer-beheading-video-story-top U of T athletes join the conversation on Bell Let's Talk Day
Feb 02, 2018 - 03:17

isis-killer-beheading-video-story-top February is Black History Month
Feb 02, 2018 - 01:48

isis-killer-beheading-video-story-top Former Diamondbacks GM Kevin Towers passes away from cancer
Feb 01, 2018 - 00:17
Hinch, while leading the Houston Astros to the World Series, revealed that his former boss was in a battle with cancer . He was drafted by the Padres in 1982 and pitched for their farm team until 1989 when an injury sidelined his career.

isis-killer-beheading-video-story-top Indonesian police in Aceh province cut hair of transgender women
Feb 01, 2018 - 00:17
The arrests were in a raid on five hair salons owned by transgender women, who are referred to locally as " waria ". The detained transgender women had their heads shaved and were given clothing supposedly appropriate for males.

isis-killer-beheading-video-story-top School-bus sized 'Holy grail' dinosaur discovered in Sahara desert
Feb 01, 2018 - 00:16
Fossil fragments included parts of the mammoth beast's skull, lower jaw, neck and back verterbrae, ribs, shoulders and more. The dinosaur's fossilized remains were uncovered amid an endeavor by scientistss from Mansoura University in Egypt.

isis-killer-beheading-video-story-top Man Charged in Five Murders Reportedly Targeted Toronto's Gay Community
Feb 01, 2018 - 00:16
The former landscaper made a court appearance Monday and will remain in custody until his next hearing on February 14. While police are confident these men were murdered, the job of trying to match up their DNA with remains is daunting.

isis-killer-beheading-video-story-top Texas governor orders investigation into sexual assault allegations of gymnastic facility
Jan 31, 2018 - 04:18
Numerous victims testified that their abuse took place at the Karolyi Ranch in Walker County. They said Nassar molested them during monthly training camps at the ranch.

isis-killer-beheading-video-story-top 'Ant-Man and the Wasp' trailer shows Evangeline Lilly kicking butt
Jan 31, 2018 - 04:18
And this time, Scott Lang aka Ant-Man played by Paul Rudd has a new partner, Hope van Dyne aka Wasp played by Evangeline Lilly . In the after credits of "Ant-Man", Hope gets her own super-suit, taking up her missing mother's mantle as The Wasp.

isis-killer-beheading-video-story-top Turkey will 'clean' entire Syrian border, says Erdogan
Jan 31, 2018 - 04:17
Erdogan again hit out at the group on Sunday, saying: "They are not intellectuals, they are a gang of unthinking slaves".

isis-killer-beheading-video-story-top Beckham reveals where he wants Ibra to play
Jan 31, 2018 - 04:15
It will be broadcast live in NBCSN in the US , in Sky Sports 1 in the United Kingdom and in Star Sports Select HD1 in India. As he was for our last visit to Wembley 11 months ago, Andre Marriner will be in the middle for Wednesday's game .

isis-killer-beheading-video-story-top Russia Will Meddle in United States 2018 Midterms, CIA Director Says
Jan 31, 2018 - 04:15
He also said that North Korea may be able to strike the U.S. with nuclear missiles "in a handful of months ". He observed: "The Russians have a long history of these information campaigns.

isis-killer-beheading-video-story-top Super Blue Blood Moon On The Horizon
Jan 31, 2018 - 04:13
The lunar eclipse , which takes place when the moon passes in the Earth's shadow, will last nearly three and a half hours. The moon will be cast in a reddish, orange hue as it passes through the Earth's shadow, hence the name blood moon .

isis-killer-beheading-video-story-top Kim Kardashian Accused Of Cultural Appropriation After Getting Braids
Jan 30, 2018 - 01:00
The image, shot in Malibu, showed Kim stretched out and carefully posed against a rocky backdrop. "No one mentioned it". The mother-of-three was called out for allegedly darkening her skin tone to promote her creme contour & highlight kit.

Ronda Rousey joins WWE, refuses to say she's retired from MMA
Jan 30, 2018 - 00:58
There had been talk about the possibility of Rousey becoming a mainstay in pro-wrestling, and now it looks like that's a go. It was the second consecutive stoppage loss of Rousey's career after opening 12-0 to help put women's MMA on the map.