Taiwanese TSMC has record profits thanks to the miners
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China accounts For up to 80 percent of the capacity of world mining. But the government refers to the coins negatively, so the local companies can not produce sufficient quantities of equipment. Such a policy gives the opportunity to earn companies from neighbouring countries. Taiwanese manufacturer of processors TSMC announced the sales of its products in the first quarter of 2018 to record levels of interest from cryptocurrency miners.
thethe Demand for a device for mining is growing
the report to shareholders of TSMC that the company's revenue in the beginning of the year grew 6.1 percent to $ 8.5 billion. At the same time, profit increased to $ 3 billion. According to company representatives, the reason was the increased demand for products from the participants of cryptocracy.
In the first quarter financial performance was influenced by the representatives of the stock market. In the next three months we expect further growth of interest in our products from the miners.
TSMC, among others, is supplying chips for the ASIC miners Bitmain. In early April the company announced the launch of its new E3 Antminer for mining Ethereum, and a week later, plans to move production to Switzerland for tighter regulation in China.
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