Samsung starts chip production for Bitcoin mining

Samsung starts chip production for Bitcoin mining

Samsung, a multinational South Korean technology company, has reportedly designed and started manufacturing chips for Bitcoin (BTC) mining.

As reported by CryptoDaily, Samsung Foundries China general manager announced last month that the company designed 2nm and 5nm chips for Bitcoin mining. According to the company's internal documentation, Samsung has been working on this project since the beginning of last year.

Samsung has announced a strategic partnership agreement with MicroBT, the third largest Bitcoin ASIC designer.

Samsung Blockchain determined to deepen the field

Given the fact that Samsung is the world's second largest semiconductor company, Samsung's entry into the Bitcoin mining industry is no surprise.

In addition, technology giant Samsung, as you know crypto money private keys storage support, the new model has released the Galaxy S10 smartphone. This shows that the company clearly supports crypto currency.

As previously reported by IIB, the phone supports Ethereum (ETH), ERC-20 tokens and ERC-721 collectible tokens. Moreover, Samsung is said to have potentially developed its own crypto currency on the Ethereum Blockchain.

As a result, Samsung is open to innovations offered by Blockchain technology and crypto currency. While Samsung Blockchain and crypto coins are all about it, their biggest rival is Apple and other tech giants. I wonder if these tech giants are doing their research on Blockchain and crypto money in secret?