Samsung Profits Increases Demand for Bitcoin Mining Chips

From Coinpedia

Profits for the South Korea Samsung Electronics are up by nearly 60 percent due to increase in demand for cryptocurrency mining chips. The company said they expect the growth to continue in the second quarter of the year.

South Korean Samsung Electronics operating profits for the first quarter of 2018 surged by nearly 60 percent riding on its ASICs mining chips. The firm recorded consolidated earnings of 60.56 trillion won (~US$56 billion). And the operating profits grew 58% year-on-year to reach 15.64 trillion won (~$14.5 billion). The semiconductor division of the firm, which manufactures the ASICs mining chips, contributed three-quarters (73%) of the total operating profits.

The year-on-year sales also grew by about 20 percent.

Read More: https://coinpedia.org/news/samsung-profits-bitcoin-mining-chips/

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