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Miners bought 3 million graphic cards in 2017

Jake Hill
Jake Hill

During 2017, the sale of more than 3 million graphic cards bought for cryptocurrency mining. An estimated investment of some USD $ 776 million, indicative of the great demand of these equipment within the mining sector of cryptocurrencies. Last time we have seen that New York to be part of ever growing Bitcoin mining Industry.

This was reported by Jon Peddie Research , a well-known market research firm, which assures that the price of mining equipment will increase because more and more people acquire these hardwares to generate balances in cryptocurrencies.

The study collects data from the three main companies producing mining equipment: AMD , Nvidia and Intel . Recently, Advanced Micro Devices announced that it was facing a shortage of Radeon cards , as they were in high demand by people dedicated to mining.

For its part, Nvidia admitted that the demand seen in the equipment had exceeded the expectations projected during the last quarter of 2017, showing concern that the mining community is leaving out to those who are its main audience: the gamers, requesting to retail stores that limit the number of graphic cards that can be purchased at the same time to ensure that everyone can access the products.

In relation to this situation, the CEO of Nvidia, Jen-Hsun Huang, said that the company is working to address the supply problems. Reports published by the company indicate that it is working on a new product called “Turing”, which would be dedicated exclusively to mining activities.

Jon Peddie Research also indicates that during the fourth quarter of 2017, the companies Nvidia and Intel have seen a cut in the shipment of products to retail stores of 6% and 2% respectively, while AMD increased its operations by 8.1%.

GPU Hardwares will rise in price this year

According to the president of the market research company,

“gaming has been and will continue to be the primary driver for GPU sales, augmented by the demand from cryptocurrency miners.” .

However, it is expected that this demand will see a fall in view of the increase in the price of cards due to the shortage of supplies. Although he suggested that gamers can offset these costs by mining cryptocurrency when they do not play games, and prices will not decrease in the near future.

Nvidia announced that GPU hardware prices will increase in 2018. The Massdrop hardware market says that the manufacturer said prices would continue to rise during the third quarter of this year.

Another factor that can influence the cost rates is the shortage of RAM memory , which has been reported by several specialized media. AMD recently announced that it would be working with suppliers to solve this deficit, since there is very little supply in the two main types of ram memories used by its RX cards ( GDDR5 and HBM2 ).

Source : news.bitcoin.com

BlockchainCrypto MiningEthereum

Jake Hill

Coming from a University Education in Computer Science, I am interested in blockchains and Bitcoin since 2014 and even mined at the time. The rumors of Bitcoin bubble made me run away, but I have com