😞 Hit by crypto winter, chip foundry UMC posts quarterly operating loss
The second largest semiconductor foundry in Taiwan, United Microelectronics Corp. (UMC), posted operating losses of 1.3% and a 9.8% drop in revenue from Q3 2018 to Q4. UMC's semiconductor chips are used in specialized ASIC mining chips for cryptocurrency mining. Revenue for their newest chip, the 14nm, decreased from five percent to one percent over 2018's latter half due to decreased demand for Bitfury's newest ASIC chip, Bitfury Clarke. In light of the bear market, UMC expects Q1 2019 numbers to continue the trend.
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