Having overtaken Intel as the world’s largest chipmaker by revenue, Samsung is boarding the crypto bandwagon. The firm tells TechCrunch it’s making chips for mining cryptocurrencies—making it the first big-name semiconductor firm to do so.
Crypto-mining 101: Cryptocurrency networks rely on computers called miners to verify transactions and maintain the security of public records. Miners are rewarded with cryptocurrency, so it can prove lucrative.
Specialized silicon: You can mine using any processor. But serious miners now use application-specific integrated circuits (ASICs) for speed advantages.
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