A Chip-Producing Giant From Taiwan Turns Bullish on Cryptocurrencies

Taiwan’s semiconductor giant thinks that digital currencies will be a key point for growing, although bitcoin dropped down due to the event of latest regulations.

TSMC- Morris Chang’s Taiwan Semiconductor Manufacturing Co is making chips for Apple’s iPhones and this helped to create new businesses like digital currency mining or artificial intelligence. The company TSMC is known as the world’s biggest microchip producer by contracts.

According to some analysts view the company’s sales from producing chips used in digital currency mining could double this year almost to 10 % of total revenue, the Bloomberg reported.

“The price of cryptocurrency is very volatile,” says Chang and for that reason TSMC will not invest in cryptocurrencies, but this area will be covered by the other high-performance computing platform firms.

He named high-performance computing including cryptocurrency mining as one of the drivers for future revenue growth, alongside artificial intelligence, the “internet of things” and automotives.

According to the nation’s state media China is preparing for a new crackdown on cryptocurrency, and Justice Minister of South Korea Park Sang-Ki said the country was preparing a bill to close digital coin exchanges.

TSMC predicts that as long as miners make positive returns the sector would remain resilient.

“The demand… has been very strong and we expect it to continue to be strong,” Chang told analysts and investors at a briefing in Taipei.

TSMC is optimistic for overall growth in 2018, expecting revenue to increase by 10 to 15 percent — more than the 9.1 percent increase in 2017 in US dollar terms.

LEAVE A REPLY

Please enter your comment!
Please enter your name here