A major semiconductor manufacturer TSMC on Thursday said that, according to his expectations, in the third quarter of this year the market for mining products will reduce the speed of the cryptocurrency.
The company, which produces components for manufacturers of mining equipment, including Bitmain, reported that its revenue for the second quarter amounted to 7.85 billion US dollars. This is 7.2% lower than in the previous quarter and 11.2% lower than the same period in 2017. This is written by CoinDesk.
In a quarterly report, TSMC reported “great” demand from manufacturers of mining equipment, but suggested that the situation could change in the coming months.
“The performance of the second quarter was strongly influenced by the seasonality of mobile products, but the demand for cryptocurrency mining is still great. Weakening in the mobile direction was offset by favorable exchange rates,” Laura Ho, senior vice president and chief financial officer of the company said in the report. “By entering Q3 2018, we expect that we will start making profits from new TSMC products using the 7 nm process technology, and the demand for crypto-mining will be less than in Q2.”
This statement is notable for the fact that as early as January, TSMC announced that, according to its expectations, the market will continue to be in great demand. In April, the company reported that services related to crypto-mining increased its revenue to record heights.
“In the first quarter of crypto-technology showed a very large demand. During the second quarter, although we still see a weakening in chips of 28 nm, the demand for all other crypto technologies is still very high,” said the president and co-CEO of the company Mark Liu.