According to reports, crypto mining demand made up 10% of AMD’s revenue for Q1. Gaming and blockchain demand drove this development. Chief Financial Officer of the company, Devinder Kumar revealed that blockchain was 10% of AMD revenue for Q1 during an earnings call this Wednesday after AMD announced that it made nearly 1.65 billion USD in first-quarter income, which is a 40% increase. According to Kumar Blockchain, demand and gaming reached a 95% boost. The startup believes that a modest decline in graphics isn’t out of the question due to the nature of Blockchain. Looking past the figures, CEO Lisa Su showed an optimistic tone for the company’s prospects in Blockchain infrastructure.
“I believe the Blockchain infrastructure has come to stay. There are countless currencies. There are multiple applications all using the Blockchain initiative. We do not see a huge risk of secondhand GPUs entering the market. I believe what you’ll find is that there are many different digital currencies, and, many of the users or consumers that are buying GPUs today are buying these GPUs for multiple use cases, whether it is for commercial and consumer use.”
“They are not necessarily buying only for mining. “I think, most people today are comparing the different avenues in the Blockchain this time. Note that there are a couple of paramount differences. I believe the first one of them is that are many multiple currencies and applications are being used in the current ecosystem. And what we have seen is that many people who are crypto mining go from one digital currency to another according to what’s going on.”
The only unknown equation here involves retail sales; it was difficult to tell whether retail sales will go toward gamers or crypto miners. However, AMD believes it has a near accurate approximation of the demand.