The cryptocurrency mining business imposes a strong demand for the semiconductor industry products. I find a positive association between the MSCI worldwide semiconductor index return and crash periods of the cryptocurrency market. This association is absent for the boom periods and other MSCI...

This study investigates the impact of cryptocurrency mining on the technology sector as mining imposes a strong demand for semiconductor products. I find a positive association between the return of MSCI semiconductor index and the crash of the cryptocurrency market. Moreover, there is a...