TSMC to Lower Revenue Estimates

Giant semiconductor manufacturer from Taiwan had to lower revenue estimates due to "uncertain" situation at the mining market
23 April 2018   1407

The current uncertain situation in cryptocurrency mining industry, combined with the relatively low demand for Apple's smartphones, has forced the world's leading semiconductor manufacturer TSMC to change the forecast for the annual profit for 2018 for the worse. This is reported by CCN.

For the whole year of 2018, we forecast the overall semiconductor market, excluding memory, will grow by 5%, while [the] foundry [market is] expected to grow by about a 8%. We forecast TSMC’s 2018 revenue in USD will be about a 10%, rather than the previously indicated 10% to 15% due to the Smartphone weakness and the uncertainty in cryptocurrency mining demand.

C. C. Wei

Co-CEO and President, TSMC

Nevertheless, Wei stressed that in the first quarter, it was miners, automakers and IoT-projects that provided more than satisfactory financial indicators of TSMC.

At the same time, the company added that in the second quarter there were some problems with the demand for 28-nanometer chips, although the remaining products "remain in demand among the representatives of the crypto-currency industry."

In 2017, thanks to the manufacturers of mining equipment, TSMC's profit exceeded the initial forecasts by 6%, while in the fourth quarter the company received 10.1% more than planned.

Litecoin to Implement Reward Halving Successfully

Block reward was reduced from 25 LTC to 12.5 LTC on block 1,680,000
06 August 2019   120

Today, on August 5, the reward for the Litecoin block for miners was halved.

Halving happened on block 1,680,000, changing the block reward from 25 LTC to 12.5 LTC. The next halving will take place in four years - tentatively on August 2, 2023, as a result of which the block reward will decrease to 6.25 LTC, making digital silver even more scarce.

Litecoin Block Reward Halving Countdown
Litecoin Block Reward Halving Countdown

According to litecoinblockhalf, 75% of the total Litecoin supply has been mined so far. The current inflation rate of the coin is 4.26%, and after four years it should drop to 1.80%.

Many investors were sure that the market had long “digested” the positive expectations in connection with a decrease in cryptocurrency emissions and expected either a sideways price movement or even a decrease in the LTC rate.