04 Jun Bitcoin and Cryptocurrency Influence Semiconductor Manufacturing
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Bitcoin and cryptocurrency mining continues to represent a growing opportunity for semiconductor manufacturers, and more big players are entering the space to manufacture mining processors that are faster and use less electricity.
Cryptocurrency such as Bitcoin, Litecoin and Ethereum must be “mined” and supported with costly mining machines. These complex computers run advanced algorithms and mathematical equations to verify transactions and keep a running ledger.
According to The Balance, a mining rig can cost between $3,000 and $10,000. They also use a significant amount of power with the average energy used to mine a single bitcoin running at least $3,000 in low-cost utility markets.
As a result, semiconductor manufacturers are in what Cryptoslate calls a “ASIC arms race” to produce more powerful and energy efficient mining rigs. In 2017, a spike in shares of Nvidia and AMD were partly attributed to a rise in the price of Ethereum. In 2017, demand from…
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