Samsung, the largest company in South Korea which is accountable for a large portion of the country's economy, has started the production phase of bitcoin and cryptocurrency mining equipment and ASIC mining chips. Local media outlets reported that Samsung partnered with a Chinese bitcoin mining equipment manufacturer last year and finished the development of its ASIC chips. "Samsung is operating a foundry that supplies a Chinese cryptocurrency mining firm with mining equipment and ASIC chips. Since Samsung has just begun its cryptocurrency mining venture, it is unsure of the revenues it can generate from it," a. spokesperson said. Hwang Min-seong, an analyst at Samsung Securities, told local media outlets that Samsung will be able to increase its revenues through ASIC chip manufacturing.