Coindesk Logo

TSMC Expects 'Strong' Crypto Mining Demand to Continue

TSMC Expects 'Strong' Crypto Mining Demand to Continue

TSMC Expects 'Strong' Crypto Mining Demand to Continue

Cryptocurrency mining demand provided a boost to TSMC's fourth-quarter revenue, according to new statements from the foundry giant.

Cryptocurrency mining demand provided a boost to TSMC's fourth-quarter revenue, according to new statements from the foundry giant.

Cryptocurrency mining demand provided a boost to TSMC's fourth-quarter revenue, according to new statements from the foundry giant.

AccessTimeIconJan 18, 2018, 4:20 PM
Updated Aug 18, 2021, 7:57 PM

Presented By Icon

Election 2024 coverage presented by

Stand with crypto

The Taiwan Semiconductor Manufacturing Company (TSMC) has reported strong financial results in the fourth quarter, thanks in part to demand from cryptocurrency mining.

In a Jan. 18 statement, the world's largest independent semiconductor foundry said that it generated NT$277.57 billion (roughly $9.2 billion) in revenue during the fourth quarter, representing a year-over-year increase of 5.9%.

On the hardware shipping front, TSMC said that its "advanced technologies," constituting wafers in excess of 28-nanometers, represented 63% of total wafer revenue.

Lora Ho, TSMC's senior vice president and chief financial officer, attributed the results to demand from cryptocurrency miners – who, through the energy-intensive mining process, add new transactions to blockchains and thereby mint new coins in the process as a reward – as well as mobile product launches.

According to Ho, that demand is expected to continue into 2018.

She was quoted as saying:

"Our fourth quarter business was supported by major mobile product launches and continuing demand for cryptocurrency mining. Moving into first quarter 2018, we expect the strong demand for cryptocurrency mining will continue while mobile product seasonality will dampen our business in this quarter."

The results mark a continuance of TSMC's performance – thanks in part to mining demand – as the company reported similar findings after the third quarter of 2017. At the time, TSMC reported a third-quarter revenue of $8.32 billion.

Image via Shutterstock

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information have been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. CoinDesk has adopted a set of principles aimed at ensuring the integrity, editorial independence and freedom from bias of its publications. CoinDesk is part of the Bullish group, which owns and invests in digital asset businesses and digital assets. CoinDesk employees, including journalists, may receive Bullish group equity-based compensation. Bullish was incubated by technology investor Block.one.


Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.