The CFO for the Taiwan Semiconductor Manufacturing Company (TSMC), which is the world’s largest self-governing semiconductor industry, quoted cryptocurrency mining in the firms third-quarter results.
TSMC- Self-governing semiconductor industry
The firm- that provides semiconductor manufacturing services for a range of industries, including the firms that design. And assemble application-specific integrated circuits (ASICs) for cryptocurrency mining- announced third-quarter revenue of $8.32 billion, an increase of 17.9% as to previous quarter and 1.5% year-over-year.
Lora Ho said, boosting those figures is the demand for semiconductors that are used in mining products.
She stated: “The strength of our third-quarter revenue was driven mainly by major mobile product launches and a generally healthy demand environment, including cryptocurrency mining. However, this strength of our third quarter revenue was partially dampened by our customers’ continued inventory management.”
A notable acknowledgment from a major hardware manufacturer. And Statements from other firms claim that have seen windfalls from the interest in mining. It is the process by which new transactions are added to the blockchain.
Nvidia and AMD which are into Graphics cards have pointed mining as a beneficial force for their bottom lines. Certainly, Jen-Hsun Huang CEO- Nvidia in August declared that “Cryptocurrencies and blockchain are here to say.”
Furthermore, Mining activity is attracting investors to the companies’ public stocks as pointed by some Wall Street analysts.