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Samsung is cashing in on bitcoin mining
February 1, 2018
The South Korean company said it's ramping up production of computer chips used to mine digital currencies like bitcoin, cashing in on growing demand.
Samsung (SSNLF) mentioned in its latest financial report this week that rising sales of these chips are expected to help its earnings this year.
People "mine" bitcoin and other cryptocurrencies by using computers to solve complex math puzzles. Those computers increasingly require more efficient chips to power them.
Experts have raised concerns about the environmental impact of the huge energy demands from bitcoin mining, much of which is located in China.
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