Samsung, one of the largest multinational technology companies of the World, has entered the Btiicoin mining business according to reports from Korea. According to reports, Samsung has signed contract with a Chinese Bitcoin mining hardware maker to supply with chips.
A Samsung spokeperson told The Bell that, “We are in the middle of a foundry business that is being supplied to a virtual money mining company in China”.
By taking this move, Samsung will also gain a lot of profit from the huge parallel demand for GPU based cryptocurrency mining as well as ASIC mining. The company has also started the mass production of a new type of DRAM for grapichs cards. The 10-nanometer 16Gb GDDR6 DRAM is twice as fast as conventional GDDR5 DRAM and improves power efficiency by more than 35%, resulting in greater profitability for GPU for cryptocurrency mining.
We can clearly see big players are joining the game of cryptocurrency.