China's recent clampdown on bitcoin mining and trading has caused the price of bitcoin to plummet and has led to adjustments in the market.
As a result, Bitmain, the largest bitcoin mining chip maker, has started canceling orders from TSMC.

Bitmain is the world's largest bitcoin mining chip maker, which has a high demand for advanced processes. Therefore, during the previous surge of bitcoin mining, Bitmain was once one of TSMC's TOP5 customers, pioneering the use of advanced 16nm, 10nm, and 7nm chips. Although its orders have declined in recent years, it is still one of TSMC's top 10 customers.

TSMC's 5nm process has been adopted by Bitmain's latest mining chips. However, since the current circumstances have changed, sources say they plan to cancel the order for 20,000 wafers in Q4, resulting in a $300 million revenue loss for TSMC.