Samsung joins cryptocurrency bandwagon

[marcopolo]

Samsung have announced that their foundry business makes chips designed for cryptocurrency mining. The move was reported by Korean newspaper The Bell who revealed the chips will be application-specific integrated circuit (Asic). It marks the first official move by Samsung into cryptocurrencies.

The company’s official statement read: “Samsung’s foundry business is currently engaged in the manufacturing of cryptocurrency mining chips.”

Garrick Hileman, a cryptocurrency researcher from the University of Cambridge, said the move indicates that Samsung does not see Bitcoin as a bubble that is about to burst.

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