While Ethereum miners buy more advanced micro devices (AMDs), it is helping to push the share prices climb up with some miners letting Boeing 747s to ship the technology out quickly for them to be plugged in to the network.
According to a report from Quartz, AMD shares had risen by 11 percent on 25 July; however, but in the other hand during the last 12 months the firm’s stock is reported to be up by more than 152 percent. This makes it the fourth best performer on the S&P 500.
AMD’s chief executive Lisa Su stated that the company had noticed a grow of AMDs purchases from the miner communiy:
“While management wasn’t specific on how much, the [graphics processor unit] revenue upside was driven by cryptocurrency applications.”
Boeing 747s Leasing
Ethereum, the second largest digital currency with a market cap value of $18.3 billion, has experienced an influx of interest from traders, in particular with the mammoth number of ICOs currently circulating. However, it’s value has seen a near 4 percent drop since yesterday when it had a market value of over $19 billion.
The “getting the gold” hype is so on the train righ tnow that the ethereum miners even let Boeing 747s for shipment pf the AMD and Nvidia processors so that they will get them faster.
The Chief Executive of Genesis mining – Marco Streng a dominant ethereum miner said:
“Time is critical, very critical. For example, we are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity.”
Right as of the moment, ethereum price is fluctuating lower than $200 around $187.64 – based on coinmarketcap.
Profit could increase up to 40-fold
Through the use of graphics processing units (GPUs) acquired from the likes of AMD or Nvidia, miners can make money. However, in order to mine a supply of ether each day the miners are required to pay for the labour and electricity to run them.
However, as Quartz points out the costs involved have remained stable while ether prices have climbed from $8 at the beginning of the year to over $400 in June, meaning miners potential profits have risen 40-fold.
“Everyone began to realize this and wanted to get GPUS to get mining. The mining return has gone up by 40 but the hardware is still the same cost. This creates an incredible economic incentive for people to start mining.”
It is interesting to mention that 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.