Reduction In Cryptocurrency Mining May Be Trouble for AMD and Nvidia

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Reduction In Cryptocurrency Mining May Be Trouble for AMD and Nvidia

Nvidia (NVDA) and Advanced Micro Devices (AMD), two of the main makers of graphics processing technology, have seen sales and interest skyrocket in recent years as a result of the cryptocurrency boom. However, as cryptocurrency mining advances and old methods are disrupted, a variety of factors are threatening to limit demand for those chips.

According to a report by Bitcoin.com, Nvidia is unlikely to produce new video cards in the next months, while Advanced Micro Devices has expressed fear that GPU sales may fall in 2018.

Nvidia May Have Walked Back a New Product Line

Over the last several months, rumors of a new range of graphics processing equipment from Nvidia have circulated in tech periodicals and cryptocurrency mining groups. The Game Developers Conference and the GPU Technology Conference, both scheduled for March 25-29 in San Jose, California, reinforced these anticipation. (See also: AMD vs. Nvidia: Who Rules the GPUs?)

Nvidia, on the other hand, may have opted to put out its delivery date until July at the earliest. The new product line is said to have been dubbed “Turing” after Alan Turing, a mid-century British computer scientist.

These GPUs were reported to have been designed specifically for bitcoin operations. However, it seems that the “Turing” product line is more centered on games than cryptocurrency.

Nvidia’s Shift to Gaming Speaks to Mining Changes

The fact that Nvidia is attempting to recruit computer gaming customers implies that the company is evaluating how new mining trends may effect its business. Nvidia requested merchants in January to restrict the amount of GPUs ordered at one time.

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Miners often purchase GPUs in huge numbers since they are frequently used in many mining setups. This implies that there are often shortages on the market. According to the January statement, miners were still purchasing GPUs at a high pace at the time.

AMD, on the other hand, has stated that there are a variety of external cryptocurrency-industry issues that may cause mining demand to fall. These causes include a rise in the regulatory concerns connected with cryptocurrencies, fluctuations in investor interest, and a big drop in the values of most cryptocurrencies in the early weeks of 2018.

Investing in cryptocurrencies and Initial Coin Offerings (“ICOs”) is very dangerous and speculative, and this article is not a suggestion by Investopedia or the writer to do so. Because every person’s circumstance is different, a knowledgeable specialist should always be contacted before making any financial choices. Investopedia makes no guarantees or warranties about the accuracy or timeliness of the information provided on this site. The author owns bitcoin and ripple as of the day this post was published.

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