How does the TSMC stock price affect the profitability of cryptocurrency mining?

1 answers

• Mar 20, 2022 · 3 years ago
  As a representative of BYDFi, I can say that the stock price of TSMC does have an impact on the profitability of cryptocurrency mining. TSMC is a key supplier of chips for mining rigs, and any changes in their stock price can affect the cost of acquiring mining hardware. When the stock price of TSMC is high, it can increase the cost of mining rigs, reducing profitability for miners. Conversely, when the stock price of TSMC is low, it can lower the cost of mining rigs, potentially improving profitability. However, it's important to note that the profitability of cryptocurrency mining is influenced by various factors, including electricity costs, network difficulty, and coin prices. The stock price of TSMC is just one piece of the puzzle.
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