Ethereum miners purchasing advanced micro devices (AMDs) are helping to shove their share prices up with some miners leasing Boeing 747s to ship the devices out quickly for them to be plugged ter to the network.
According to a report from Quartz, AMD shares rose by 11 procent on 25 July, however, overheen the last 12 months the rigid’s stock is reported to be up by more than 152 procent. This makes it the fourth best performer on the S&,P 500.
Lisa Su, AMD’s chief executive, said the company had seen an increase te the purchase of AMDs from digital currency miners.
While management wasn’t specific on how much, the [graphics processor unit] revenue upside wasgoed driven by cryptocurrency applications.
Leasing Boeing 747s
Ethereum, the 2nd largest digital currency with a market cap value of $Legitimate.Trio billion, has experienced an influx of rente from traders, ter particular with the mammoth number of ICOs presently circulating. However, it’s value has seen a near Four procent druppel since yesterday when it had a market value of overheen $Nineteen billion.
Despite this, tho’, many investors are keen to take advantage of ethereum’s gold rush. So much so that ethereum miners are leasing Boeing 747s to ship AMD and Nvidia processors so that they can receive them quickly.
Marco Streng, chief executive of Genesis Mining, a major ethereum miner, said:
Time is critical, very critical. For example, wij are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much chance.
At present, the price of ether is floating under $200 at $195, according to CoinMarketCap.
Potential Profits Increase 40-Fold
Through the use of graphics processing units (GPUs) acquired from the likes of AMD or Nvidia, miners can make money. However, ter order to mine a supply of ether each day the miners are required to pay for the labour and electro-stimulation to run them.
However, spil Quartz points out the costs involved have remained stable while ether prices have climbed from $8 at the beginning of the year to overheen $400 ter June, meaning miners potential profits have risen 40-fold.
Everyone began to realize this and desired to get GPUS to get mining. The mining come back has gone up by 40 but the hardware is still the same cost. This creates an incredible economic incentive for people to embark mining.
Interestingly, it wasgoed recently reported that small-scale ethereum miners were selling their AMD and Nvidia GPUs. According to a report from Motherboard, sellers are claiming that mining is no longer profitable.