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Samsung made a special chip for mining cryptocurrency

Maybe don't expect GPU prices to drop anytime soon, though.
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Chesnot via Getty Images

Samsung has a chip designed specifically for mining cryptocurrency. Rather than repurpose a GPU to do the dirty work, Samsung made an Application Specific Integrated Circuit (ASIC), which is a specialized processor that is more efficient at mining than, say, an NVIDIA 1080 card. The company has entered into a distribution agreement with an as-of-now anonymous Chinese partner for distribution. As TechCrunch notes, this is significant for at least one reason: This gives the Korean company a way into the Chinese ASIC market, where local firms dominate. It's too early to tell what sort of impact (if any) this could have on Samsung's bottom line, or how it could affect cryptocurrency and China's local players.

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