Samsung Electronics is following the trends and started to produce chips for a Chinese company to mine cryptocurrencies. It’s expected to beat off expenses till the end of this year.
Samsung has a division within its semiconductor business – Foundry. Its main products are chipsets for other companies.
The company confirmed that it had been producing hardware for crypto mining:
“We are making progress with our foundry business that supplies to a virtual money mining company in China. It is in the beginning stage so the proportion of profit from the overall foundry business is small yet.”
Mining requires super computer with strong hardware and chipsets. And that’s exactly what Samsung can produce.