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Good Job! Samsung Takes the Leap to Capitalize on Cryptocurrency Obsession

Good Job! Samsung Takes the Leap to Capitalize on Cryptocurrency Obsession

The company seems to promote the foundry and system semiconductor businesses as its new growth engine after memory chips.

But Samsung's entry into this space, even as potentially just a parts supplier, might mean their profits could now be affected by increased or decreased bitcoin mining demand and more generally crypto mining as they also mass produce GPUs.

Mining is a process of solving mathematically complex problems that serve to verify the transactions of cryptocurrency coins.

Major cryptocurrency mining companies are operating from China where electricity is cheaper.




It is yet to be confirmed if these chips are going to be integrated into smartphones or separate machine enclosures of their own like ASICs, so Samsung's plans of the future are now a bit hazy. "However we are unable to disclose further details regarding our customers", a company spokesperson said. ASIC chipsets, on the other hand, are distinct pieces of hardware as they are optimised for the task. Initially, almost anyone could mine Bitcoin using his/her home computer. GPUs are used to handle graphics on computers as well as being deployed for mining purposes. They come with better power efficiency, are created to increase a GPU's performance, and are also used for mining purposes.

How will this move affect others in the race?
CFO Lorna Ho described the demand as continuous, with co-CEO Mark Liu telling investors in the third quarter of 2017 that the firm received between $350m to $400m in revenue from this particular market segment.

This year, processors, which are designed for bitcoin mining, were put on the market. Although this is a small figure for the Samsung, which booked an incredible $69 billion in chip sales in 2017 thanks mainly to the smartphone industry.

And whilst Samsung said that its display panel business, which makes OLED and LCD screens, saw increased shipments of OLED panels for premium smartphones, it LCD panels profitability took a hit due to weak seasonality, which dampened sales and average selling prices.

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