Ethereum Mining Spike Causes Mass Radeon Demand
Mike Sanders / 1 year ago
Ethereum mining has caused a massive spike in the demand for AMD Radeon cards. The rush has even seen stock levels wiped out in some areas as AMD stock rallies from a recent drop. So how can the one possibly be related to the other?
How can Ethereum Mining be causing a demand for Radeon cards?
AMD Radeon cards have always been a go-to tool for GPGPU (General-purpose computing on graphics processing units). This put simply means crypto-currency farming/mining. What has been discovered however is that AMD Radeon CoreNext architecture GPUs work exceptionally well in this area. Since this encompasses every Radeon GPU since the 7000 series, this has seen a massive surge in demand for the graphics cards *insert team green joke here*.
With NextPowerUp reporting the increase of Ethereum mining based on the currency strength, AMD has been unable to cope with the demand. We reported only a week ago that the Bitcoin had surged past the $2000 price mark.
Another crypto-currency story when I’ve long missed the boat.
You’d think that, wouldn’t you? I always and constantly feel I’ve missed my chance in this area, however every time I come across news like this. It is reputed that even today a $1000 investment in AMD Radeon for the specific usage of GPGPU will see that double in return within 2 months. So maybe it isn’t too late, but even so, I’m not off rushing to buy any mining systems.
Good news for AMD too!
The recent surge has also seen a significant boost in the stock price for AMD. The stock hit a quite notable 12 year low at the start of the month following disappointing figures. This despite Ryzen storming the processing world. With AMD Vega graphics cards also reported to be hitting supply issues due to HBM2 memory shortages, this unexpected demand will be viewed as good news all around.
So maybe it is time to consider starting up your Ethereum mining business. However, be careful, we keep thinking we’ve missed the boat, but sooner or later we might finally end up on it only to find its sinking rapidly.