TSMC Reportedly Limits Supply To Bitcoin Mining Players As Demand Surges Amid Crypto Frenzy
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Global chip shortage hits China s bitcoin mining sector
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Global shortage of chips affects China’s bitcoin ‘mining’ sector
24 Jan 2021 The picture shows representations of virtual currency bitcoin. File/Reuters
A global chip shortage is choking the production of machines used to ‘mine’ bitcoin, a sector dominated by China, sending prices of the computer equipment soaring as a surge in the cryptocurrency value boosts demand.
A cryptocurrency is a digital currency that can be used to buy goods and services, but uses an online ledger with strong cryptography to secure online transactions.
Analysts said that the scramble is pricing out smaller miners and accelerating an industry consolidation that could see deep-pocketed players, many outside China, profit from the bitcoin bull run.