Bitcoin Miners snapped up 3 Million GPU’s last year

Over three million Graphics Processing Units (GPUs) have been sold to bitcoin and other cryptocurrency miners last year, Jon Peddie Research announced in its latest report, with total sales of video cards reaching $776 million. The market research firm does not expect prices to go down in the near future.     The study covers data from the top three producers of GPUs – AMD, Nvidia, and Intel. Recently, Advanced Micro Devices acknowledged shortages of its Radeon cards because of their use in mining applications.   AMD’s main competitor, Nvidia,…

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Secret Chinese Bitcoin mine makes Billions

Secretive Chinese start-up called Bitmain dominates the Bitcoin “mining” industry land as reported by CNBC Is likely to make as much as chipmaker Nvidia did last year.     Estimates of gross margin of 75 percent and operating margin of 65 percent, analysts calculate that Bitmain made $3 billion to $4 billion in operating profit in 2017. It is estimated that  Nvidia’s operating profit was $3 billion during the same period.   “But Bitmain achieved this in merely four years, while it took Nvidia 24 years to get here,” the Bernstein…

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Growing Demand for Cryptocurrency Mining and “printing money”

Cryptocurrency mining continues to attract new miners as the value of cryptocurrency rises and the opportunity to “print your own money” takes hold.     GPU mining rigs are built and operated specifically for mining or it could be a computer that fills other needs such as a gaming system and is used to mine only on a part-time basis.  GPU mining is certainly proving very popular as GPU manufacturers report on ever increasing demand for graphics cards.   According to Jensen Huang, founder and chief executive officer of Nvidia,…

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