Advanced Micro Devices (AMD) entered the business of cryptocurrency mining, and now the company offers eight models of mining rigs online. The AMD crypto mining equipment incorporates Radeon graphics cards, already accessible in the field of mining cryptocurrencies. The company had also pointed out that sales of this type of machine had slowed down, but they have reached an agreement with other manufacturers such as Asus, Saphire or Asrock to design the rigs and integrate the AMD graphics cards.
According to the company, this business area can help make the use of blockchains safer and more efficient by providing the necessary hardware to perform the mathematical and cryptographic calculations required for the mining operation.
“Blockchain algorithms require computing platforms, PCs and servers, more specifically CPUs and GPUs to run. AMD is uniquely positioned to offer the best combination of CPU and GPU technologies to make blockchain transactions faster and more secure,” AMD stated.
AMD ventures into the cryptocurrency mining business with eight new crypto mining rigs
Saphire, Asus, Asrock, MSI, Biostar, Tul, and Rajintek are the companies AMD has partnered with to offer complete crypto mining rigs along with their hardware, the AMD Radeon graphics cards. This new line of business is contrasting with the low level of sales reported by the company just a week ago.
According to the recently released AMD report, the company’s revenues for Q4 2017 were $1.34 billion, adjusted for revenue accounting standard ASC 606, and included GPU sales related to blockchain and crypto mining. According to AMD, this year’s crypto mining rigs’ sales were negligible, in comparison with the company’s other products.
The irruption of ASIC miners, with chips specialized in a specific algorithm and with more capacity and computing power, have caused the decline of this business. The popularity of ASIC miners, together with the many drops of the cryptocurrency market, could have had an impact on the fall of the AMD’s profits from crypto mining rigs. However, new AMD cryptocurrency mining computers are now available to revive this sector for AMD.
Jackson Bey was born and raised in Lethbridge Alberta but moved east when he was 22. Apart from running his own consulting firm. Jackson spends his time canoeing the many lakes of Ontario. As a financial journalist Jackson has published stories for CBC Business Online, as well as Buzz Feed and Motherboard. As a contributor to Billionaire 365, Jackson mostly covers markets and trade.