cryptocurrency scam

The height of cryptocurrency means that all industries associated with it have been able to benefit as well. One of the highest benefitting groups has continued to be those who make computer chips that are used in the mining of cryptocurrency. One of the largest chip makers in the world, Taiwan Semiconductor Manufacturing Company or TSMC, is responsible for manufacturing over half of the world’s computer chips, and currently the largest contract manufacturer in the world. They have reported revenues recently that show the massive amount of contribution that the cryptocurrency world has played in its prices.

According to a report on the company, “TSMC management were cagey about the exact contribution from crypto miners in the fourth quarter, declining to give specifics when questioned by investors. But its chief financial officer, Lorna Ho named “continuing demand for cryptocurrency mining” as one of two growth factors for the quarter, major mobile product launches being the other. In the previous reporting period, co-chief executive officer Mark Liu told investors that it received $350 to $400 million in revenue from crypto miners.”

TSMC is not in any attempt to downplay how large of an impact they have on the world of cryptocurrency, but their hope is to not have their business become dependent on a market that is so volatile. Since there are a large amount of regulatory measures being put in place across the world for the industry of cryptocurrency, it is difficult to tell where the market will go in the upcoming future. Since the market is relatively new, there is no way to predict what will occur to the massive amount of businesses that have in some way or another, become apart of the large cryptocurrency world up until this point.


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