AMD turns to cryptocurrency mining business despite the impact of quarterly results

Advanced Micro Devices (AMD) has definitely entered the crypto-active mining business. The company offers 8 models of rigs from over 7 manufacturers on one website. The mining equipment includes Radeon graphics cards, which are popular in the mining of certain crypto coins.

AMD, AMD turns to cryptocurrency mining business despite the impact of quarterly results,

AMD trying to recover GPU market by promoting cryptocurrency mining business?

The company had indicated that sales of this type of equipment had slowed, but an agreement was reached with other manufacturers, such as Asus, Saphire or Asrock, to design the equipment and integrate the AMD graphics cards. According to the company, this division can contribute to a more secure and efficient use of block chains by providing the necessary hardware to perform the mathematical and cryptographic calculations necessary for its operation.

Blockchain algorithms require the execution of computer platforms, PCs and servers, especially CPUs and GPUs. AMD is uniquely positioned to offer the best combination of CPU and GPU technologies to make block-chain transactions faster and more secure.

Saphire, Asus, Asrock, MSI, Biostar, Tul, and Rajintek are the companies with which AMD has partnered to offer complete systems together with its own hardware. AMD offers cards with these devices for a price ranging from $150 to $220.

This new business is in contradiction to the low revenues the company reported a week ago. AMD reported that in the third quarter of 2018, sales of GPUs were ” insignificant ” for crypto mining.

“For comparison purposes, fourth quarter 2017 revenue was $1.34 billion, adjusted for the ASC 606 revenue accounting standard, and included block-chain GPU sales with a low double-digit percentage of AMD’s total revenue,” according to AMD’s October 24 report.

The collapse of ASIC miners with chips specialized in a particular algorithm and more capacity and processing power have caused the decline of this business. Coupled with the collapse of the cryptocurrency market, this situation could have affected the decline in the company’s profits.