AMD Looks to Expand Crypto Mining Business

Karan Balwani

November 5, 2018 11:17 am

Crypto Mining

AMD Looks to Expand Crypto Mining Business
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Ever since the inception of cryptocurrencies, there has been an ongoing craze behind mining your own digital currencies. In the past few years, crypto mining at home has become increasingly difficult due to heightened mining complexities.

There was a time when a user could mine dozens of Bitcoins daily using an old Pentium 4 PC. As the overall mining difficulty grew, people started moving towards high-end GPUs to earn Bitcoins.

The mining craze reached a point where the prices of these graphics cards became incredibly expensive. The target audience for which the cards were built (gamers) were unable to buy high-end graphics cards at a reasonable price.

Advanced Micro Devices (AMD), one of the world leaders in computer graphics hardware has announced that it’s focusing on the crypto mining business as well. Presently, the manufacturer’s product line features 8 rig models available from 7 manufacturers on AMD’s official website. All these mining rigs consist of AMD’s own Radeon series of graphics cards that are popular for mining certain cryptocurrencies.

The sales of mining GPU has slowed in the past few months. An agreement was reached between AMD and other manufacturers such as Asus, Asrock, and Saphire to design mining equipment and integrate AMD graphics cards. This agreement can help in providing a more specific and efficient use-case for blockchain technology.

AMD currently finds itself in a favorable position where it can utilize its expertise and market position on combining the best CPU and GPUs to make it better suited for blockchain technology. AMD is offering cards for mining ranging from $150 to $220.

Though the new business strategy does not fall in line with the company’s falling revenues, reported from last week. The company said that the third quarter sales of crypto mining devices were “insignificant”.

“For comparison purposes, fourth quarter 2017 revenue was $1.34 billion, adjusted for the ASC 606 revenue accounting standard, and included blockchain GPU sales with a low double-digit percentage of AMD’s total revenue.” This information was published in AMD’s official October 24th report.

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