TSMC Expecting Revenue Boost Due To Popularity Of Bitcoin

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Scott Hartleyhttps://www.sertmedia.com
My name is Scott Hartley I am from Nashville, TN, and love to cover topics related to the latest tech trends, social media, and cars!

Bitcoin and cryptocurrencies have become topics for daily discussion for both good and bad reasons. Many see the value in the technology while some argue it can replace traditional currency. Other’s think that cryptocurrencies are nothing more than a scam.

TSMC the company that has been making chipsets for Apple’s iPhones for over a decade now. The company has suffered from a decrease in revenue due to the dwindling shipment of Apple’s latest iPhone. However, the company is experiencing an increase in revenue from other partners largely due to the increased interest in mining of Bitcoin and other cryptocurrencies. Additionally with the increased competition that Apple faces from companies like Oppo, Xiamoi, and more TSMC is profiting off the increased competition as more phones are being produced.

Apple currently only contributes 5% to the companies overall revenue but revenue from cryptocurrency related sales account for nearly 10% of the companies revenue.

However, as the company is aware that crypto interest is very fluid and the increased revenue is likely only temporary and therefore the company is relying on more partnerships and funding by companies such as Nvidia as more long-term revenue.

Additionally, cryptocurrencies are highly fluid and are being faced with legal challenges by countries such as China and South Korea both who are looking to regulate the currencies harshly.

Benjamin Chiang, an analyst at KGI Securities expressed his apprehension last week by saying,

Although some investors are bullish that Bitcoin-related chipset demand could offset soft smart-phone demand in 2018, we question whether Bitcoin demand will be sustainable.

However, to put things in a positive light, Sebastian How, an analyst with CL Securities Taiwan Co., has said,

If mining demand vanishes tomorrow, it shouldn’t affect the investment outlook. But if it turns out to be strong, the company will rake it in.

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