Miners buy at cost parity with coin costs. Even at the current ridiculous price of crypto, they can't afford latest nodes. And TSMC make them pay cash because

Miners buy at cost parity with coin costs. Even at the current ridiculous price of crypto, they can't afford latest nodes. And TSMC make them pay cash because they were previously burned by few mining chip makers going bust after their bet on coin prices didn't pay put. But only underlines how chipmaking is the next most lucrative thing after, effectively, printing money.