Samsung Is Manufacturing Cryptocurrency Mining ASIC Chips In Large Quantities
Gamers are the being the most affected by the current cryptocurrency craze. While miners are ready to pay extra for video cards because they are buying them dozens at a time, it isn’t really smart (or advisable) to pay up to a double the MSRP price for a card you will be using just for gaming. This massive rise in GPU prices might finally end because Samsung started manufacturing special ASIC (application specific integrated circuits) in large quantities.
These chips are specifically engineered for crunching algorithms that have to be solved during cryptocurrency mining operations, especially algorithms tied to Bitcoin mining. The Korean company confirmed this in a statement to TechCrunch where Samsung’s spokesperson stated that “Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips. However, we are unable to disclose further details regarding our customers.”
The statement follows a report from Korean media about Samsung inking a deal with an unnamed Chinese partner for producing ASIC chips. Another Korean media outlet reports about a deal Samsung made with a Russian Bitcoin mining company to supply ASIC chips. While these chips are way better for mining Bitcoin, the second largest cryptocurrency, Ethereum, still favors regular graphics cards. So, there’s a slim chance this move will return GPU prices to normal, but one can only hope.
After all, if Ethereum becomes popular enough, maybe Samsung or someone else might start producing chips specifically designed for Ethereum mining, but it seems we will have to wait a bit before this craze stops and before graphics card prices return to normal.