Chip Manufacturer Cuts Revenue Forecast Again Due to Low Demand for Crypto Miners – Bitcoints

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Published on July 20th, 2018 | by bitcoin

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Chip Manufacturer Cuts Revenue Forecast Again Due to Low Demand for Crypto Miners

Chip Manufacturer Cuts Revenue Forecast Again Due to Low Demand for Crypto MinersAccording to analysts, the company could face slowing demand for high-end chips used in crypto mining, as miners choose lower-powered chips due to price volatility and stricter regulations in the industry.
During the April and June quarter, TSMC registered a 9 percent increase in net profit from the previous year to $2.3 billion.
Sales to the personal computer industry were 21 percent of totaled revenue, 12 percent up compared to the previous year.
Revenue reportedly rose 11 percent and reached $7.85 billion, which is in line with the company’s forecast made in April.
TMSC previously lowered its revenue forecast in April from a growth rate of 15 percent to 10 percent.

Source: Cointelegraph.com

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