Coingeek Informs Bitmain Could Lose TSMC As A Supplier Of Virtual Circuit Boards

Coingeek Informs Bitmain Could Lose TSMC As A Supplier Of Virtual Circuit Boards

The cryptocurrency site Coingeek claimed that there are several sources that say that Bitmain might lose its partnership with TSMC. Bitmain is the largest manufacturer of ASIC miners in the world and is located in China. If TSMC stops providing services and supplying circuit boars for Bitmain, the situation could be critical for the mining giant.

Nevertheless, it is important to mark some things about this. Coingeek’s owner is Calvin Ayre, who is completely opposed to Bitmain in the Bitcoin Cash upgrade hash war. Bitmain has been supporting Bitcoin Cash ABC and Calvin Ayre Bitcoin Cash SV. Each of these sides has other supporters such as Roger Ver for Bitcoin Cash ABC and nChain’s Craig Wright.

In such a difficult situation for both, Bitmain and Coingeek, Calvin Ayre might just be trying to improve its position in the hard war. However, Bitmain has also been closely followed by analysts in the last months after announcing its intention to launch an IPO on the Hong Kong stock exchange.

According to BitMEX Research, Bitmain has paid $1.3 billion dollars in total to TSMC just the first half of the current year. The BitMEX Research team considers that this is an alarming ‘drain on working capital.’

During the last months, there has also been a growing competition to Bitmain. New companies are releasing ASIC miners and other mining products that are affecting Bitmain’s dominance in the market.

According to the report released by Coingeek, Bitmain could be searching for a TSMC replacement in South Korea. One of the companies that could reach a chop deal could be Samsung.

Coingeek quoted one of the sources:

“If TSMC continues to do business with Bitmain, they’ll require a good behavior bond. Their chips will slow to market as they won’t start work until they’ve received payments for future orders in full.”

It is important to understand that Bitmain had some issues in the past and during the last months. Several companies and experts have been talking about it. Nonetheless, it is also important to take the comments given by Coingeek in their context. Both, Jihan Wu and Calvin Ayre are involved in a hash war that still does not have a winner and that can influence the whole future of the cryptocurrency world.

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