Less Known Chipmakers are Benefitting From the Cryptocurrency Boom

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The cryptocurrency mining boom is something that is not just affecting those involved in the industry, it is changing revenue streams across other markets as well. The company known as Taiwan Semiconductor Manufacturing Co., recently showed a surprising uptick in revenue in their latest quarterly earnings report.

This shows that the top players in the space Nvidia Corp. (NVDA), and Advanced Micro Devices Inc. (AMD), are not the only ones benefitting int he industry. Around $400 million of the semiconductor manufacturer’s revenue is said to have come from cryptocurrency mining.

The CEO of Taiwan Semi, Mark Liu, recently stated that the cryptocurrency industry is having a large effect on their business overall. Although that $400 million only represents a fraction of the company’s $8.32 billion in revenue, it is a quickly increasing market.

The company Taiwan Semi is known as the world’s largest semiconductor foundry, which means that they make the chips for semiconductor designers that don’t have fully vertical businesses and can’t develop their own physical product. This includes Apple, as well as many other internet of things devices. They also have recently been working with different automotive companies to help build the infrastructure for autonomous vehicles. Taiwan Semi has done extremely well over the past year when looking at a more broad view of the semiconductor industry.

The stock rose by a staggering 48{7b1a8a58d3ffe2d8e535e80e794d8bc0bf06a3ecc0c2050b83ca37784c6fddca} year-to-date, and looks like it will only continue to climb further. The high computing power needed that is associated with the cryptocurrency industry is something that can only be matched by a few of the top producers in the space. It is a highly sophisticated industry that will hopefully open up soon to more of the smaller companies in the industry. The hopes are hight hat Taiwan Semi will continue to help proliferate the market on cryptocurrency as time goes on.

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