Chip maker TSMC expects weaker crypto mining demand in final quarter
Major chip manufacturer TSMC is predicting weak demand for processors from cryptocurrency miners in the fourth quarter of 2018.
As Coindesk reports, TSMC, the primary supplier for crypto mining giant Bitmain, estimates that its revenue growth will be impacted by “continued weakness” in the crypto mining market. As a result, the company has lowered its annual revenue growth forecast for 2018.
In a statement, TSMC forecast that revenue growth would be “partially offset by continued weakness in cryptocurrency mining demand and inventory management” by its customers.
According to Bitmain, nearly 60% of its entire chip supply came from TSMC in 2017 and the first half of 2018.