South Korean Electronics Giant Samsung To Manufacture Hardware For Cryptocurrency Mining

South Korean Electronics Giant Samsung To Manufacture Hardware For Cryptocurrency Mining…

Samsung Electronics - Image Copyright Lowyat.Net

Samsung Electronics – Image Copyright Lowyat.Com

Samsung the world’s biggest chipmaker are to start making hardware for cryptocurrency mining

RT.Com are following the story quote here…

The disclosure was made in Samsung’s latest earnings report, in which the company also said that it had overtaken Intel to become the world’s biggest chipmaker last year.

“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 company’s spokesperson was quoted as saying by media.

The chips are known as ASICs, or application-specific integrated circuits. They are custom-designed to carry out a single task – “mining” bitcoin or another specific cryptocurrency, but not general computing operations. – Quote attribution RT.Com

This move must surely question all the investment analysts forever seeking viral headlines about the future of Bitcoin and other cryptocurrencies. Readers take this on board, no matter what is negatively written in scribe about cryptocurrency it is here to stay!

Why?

Simply because international electronics giants do not spend millions on – development design – new production lines making hardware that is not going to sell and has a limited sales lifespan. That is just not going to happen and moreover Samsung are a South Korean company and travelers will know that the Orient and Asia is all about FACE! Failures of course take place but there is always an exit door to save face… But this will not apply to Samsung Electronics as there is no way that a new hardware production line is going to fail. Imagine the furor on the stock exchanges in Asia and around the world. Samsung share prices would just crash through the floor.

THAT IS SIMPLY NOT GOING TO HAPPEN! – What is the likely reality Samsung will enjoy record sales of cryptocurrency mining hardware.

South Korean Electronics Giant Samsung To Manufacture Hardware For Cryptocurrency Mining…

Legend

Samsung – meaning – Samsung Group is a South Korean multinational conglomerate headquartered in Samsung Town, Seoul. It comprises numerous affiliated businesses,most of them united under the Samsung brand, and is the largest South Korean chaebol (business conglomerate).

Samsung was founded by Lee Byung-chul in 1938 as a trading company. Over the next three decades, the group diversified into areas including food processing, textiles, insurance, securities and retail. Samsung entered the electronics industry in the late 1960s and the construction and shipbuilding industries in the mid-1970s; these areas would drive its subsequent growth. Following Lee’s death in 1987, Samsung was separated into four business groups – Samsung Group, Shinsegae Group, CJ Group and Hansol Group. Since 1990, Samsung has increasingly globalised its activities and electronics; in particular, its mobile phones and semiconductors have become its most important source of income. As of 2017, Samsung has the 6th highest global brand value. – Legend attribution Wikipedia.Org

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