Taiwan Semiconductor Manufacturing Company (TSMC), the world’s largest contract chipmaker that counts the world’s bitcoin hardware designers among its clientele, plans to invest $100 billion over the next three years to grow its capacity.
“TSMC expects to invest USD$100b over the next three years to increase capacity to support the manufacturing and R&D of advanced semiconductor technologies,” the company told Bloomberg on Thursday. “TSMC is working closely with our customers to address their needs in a sustainable manner.”
The global economy is experiencing a chip shortage because of production disruptions triggered by the COVID-19 pandemic, impacting numerous industries including bitcoin mining, as The Block reported this week.
Bitcoin miner manufacturers rely on companies like TSMC, Semiconductor Manufacturing International Corporation, and Samsung Foundry to construct their application-specific integrated circuit (ASIC) chips for bitcoin mining hardware.
Other industries affected include smartphones, personal computers, and electronic vehicles. In response, several chipmakers have announced plans to invest billions of dollars to increase their capacities. Intel, for instance, plans to directly compete with TSMC with a $20 billion investment via two new factories in Arizona. Samsung Electronics is also spending over $100 billion over the next decade to expand its semiconductor business.
© 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
News Source from TheBlockCrypto.com