Bitcoin mining chip maker TSMC is investing $ 100 billion in capacity expansion over a period of three years
Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker, whose customers include the world’s bitcoin hardware designers, plans to invest $ 100 billion in capacity expansion over the next three years.
“TSMC expects to invest $ 100 billion over the next three years to increase capacity to support manufacturing and research and development of advanced semiconductor technologies,” the company told Bloomberg on Thursday. “TSMC works closely with our customers to meet their needs on a sustainable basis.”
The global economy is suffering from a production shortage due to production disruptions triggered by the COVID-19 pandemic, which affects numerous industries such as bitcoin mining, The Block reported this week.
Bitcoin miner manufacturers rely on companies like TSMC, Semiconductor Manufacturing International Corporation, and Samsung Foundry to develop their application-specific integrated circuit (ASIC) chips for Bitcoin mining hardware.
Other industries affected are smartphones, PCs and electronic vehicles. In response, several chipmakers announced plans to invest billions of dollars to expand their capacities. For example, Intel plans to compete directly with TSMC with a $ 20 billion investment through two new factories in Arizona. Samsung Electronics is spending over $ 100 billion over the next decade to grow its semiconductor business.