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Taiwan technogiant TSMC reported “great decline” of the revenues from mining

Technogiant Taiwan Taiwan Semiconductor Manufacturing Company (TSMC) announced financial results for the 4th quarter of 2018, and on Thursday published statementsby providing information about revenues by business segments.

TSMC CEO and Vice-Chairman of the C. C. Wei said that the segment HPC (high performance computing) all 2018 declined, after it was added to the business of mining cryptocurrency.

Wei said

“Cryptocurrency is falling throughout 2018. Therefore, if we add the cryptocurrency in HPC, it is still a big drop. We are talking about double digits. Excluding mining, HPC segment grew slightly”.

TSMC did not provide specific numbers about his crypto-mining business because “he belongs to one of the largest customers.” Perhaps we are talking about Bitmain, since it remains the main client of the firm.

According to the initial statement on public offering, filed on the Hong Kong stock exchange in September, almost 60% of the total volume of supply of chips Bitmain had to TSMC in 2017 and the first half of 2018.

TSMC also witnessed slower demand for equipment in the 4 quarter of 2018, which has led to the buildup of reserves.

About the prospects of his crypto-mining business in 2019 Wei said that the company is unable to predict as the sector is quite “volatile”.

Overall, TSMC revenue reached $4.4 billion in 4th quarter of 2018, showing a growth of 10.7% QoQ and 2% yoy.

 

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