Skip to content

TSMC: Cryptocurrency activity generated solid revenue in the third quarter

--Advertisements --

The chief financial officer of the Taiwan Semiconductor Manufacturing Company (TSMC), the largest independent semiconductor foundry in the world, cited cryptocurrency extraction in the company's third-quarter earnings.

The company – which provides semiconductor manufacturing services for a range of industries, including companies that design and assemble application-specific integrated circuits (ASICs) for crypto extraction – currency – business turnover of $ 8.32 billion in the previous quarter and 1.5% of one year on the other.

The increase in these figures, said Lora Ho, is the demand for semiconductors used in mining products.

She stated in a statement:

"The strength of our third-quarter revenue is mainly due to significant mobile product launches and a generally healthy demand environment, including mining cryptocurrency. continuous management of the inventory. "

This is a notable recognition of a major hardware manufacturer, but that is not surprising considering the earlier statements of other companies that have seen some spinoffs of interest in mining, the process by which new transactions are added to the blockchain.

-- Advertisements --

Nvidia and AMD, which manufacture graphics cards, both emphasized that mining was a beneficial force for their bottom line. Indeed, it's Nvidia's CEO, Jen-Hsun Huang, who said in August that "crypto-currencies and blockchain are here to tell."

Mining activity, as pointed out by some Wall Street analysts, also attracts investors in the public stocks of corporations.

Image via Shutterstock


Leader in blockchain information, CoinDesk is an independent media company that strives to achieve the highest journalistic standards and adheres to a strict set of editorial policies. Do you have any breaking news or a tip to send to our journalists? Contact us at news@coindesk.com.

See also  The BitPay payment processor begins to prohibit prohibited activities on its platform
Advertisements

-- Advertisements --