One of the many different cryptocurrency mining hardware producers, TSMC (Taiwan Semiconductor Manufacturing Company), has reported an incredible amount of sales during Mach 2018. This situation takes place in a moment when Bitcoin mining profitability is being questionable.
TSMC Record Sales for March
During TSMC’s First Quarter 2018 Earnings Conference and Conference Call, Elizabeth Dun, Senior Director at TSMC, said that their revenues were 248 billion TWD ($8.4 billion dollars) the first quarter of 2018. That means that the company registered a 6.1% increase compared to the last year’s March. At the same time, the company reported that in March alone, they had profits of $3.4 billion dollars.
The information is well received in a community that has been hearing during the last days that Bitcoin could soon not be profitable if the price of Bitcoin drops under $8,600 dollars.
C.C. Wei, Co-CEO and President & Additional Director believes that the long term business is very profitable. He explains that TSMC is optimistic about the development of some important trends in the technological and communication sectors, including 5G communications and AI.
Mr Wei explained:
“We are optimistic about the development of some of the industries of mega trends, particularly AI and 5G communication. We believe these 2 will help semiconductor to separate is progressively seem to our daily lives. Both AI and 5G will create the new usage models and spur new waves of demand for both of the existing and emerging applications with the increasing silicon content.”
Moreover, he said that TSMC could benefit from these industry trends in all of their four gross platforms.
Samsung Enters the Crypto Mining Industry
Another important giant in the technological industry, Samsung, has announced that it will start producing cryptocurrency mining hardware. According to the news outlet, ‘The Bell,’ Samsung was going to start producing crypto mining hardware at the end of January 2018.
The article in Korean language explains that Samsung will be producing GPU miners as well targeting small customers interested in mining cryptos.
Hwang Min-seong, analyst at Samsung Securities explained:
“Samsung Electronics could increase its revenues through ASIC chip manufacturing but because the foundry only accounts for a small portion of the company’s semi-conductor manufacturing plant, it is difficult to predict that the firm’s mining venture will have a significant impact on the company’s revenues.”
Bitmain, the giant Chinese mining company, is the most important enterprise in the cryptocurrency mining hardware industry. According to some reports, it accounts for more than 80% of the total cryptocurrency mining market.
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