Crypto Mining Accounted For 10% of AMD’s Revenue in The First Quarter of 2018 

amd crypto

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.

She said:

SEE ALSO:   The SEC's View Regarding Bitcoin and Ether May Be Bad News for Investors After All 

“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.”

She added:

“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.”

SEE ALSO:   Foxconn and Sirin Labs partner to Manufacture Blockchain Phones – Blockchain News -Wed Jun 20

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.

loading...

Legal Disclaimer: The content of this website (smartereum.com) is intended to convey general information only. This website does not provide legal, investment, tax, etc advice. You should not treat any information on smartereum.com as a call to make any particular decision regarding cryptocurrency usage, legal matters, investments, taxes, cryptocurrency mining, exchange usage, wallet usage, initial coin offerings (ICO), etc. We strongly suggest seeking advice from your own financial, investment, tax, or legal adviser. Neither smartereum.com nor its parent companies accept responsibility for any loss, damage, or inconvenience caused as a result of reliance on information published on, or linked to, from smartereum.com.

SEE ALSO:   Blockchain Jobs: Top Careers in the Blockchain Space

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Get Smart About Crypto!


Promise we won’t spam you!

We Are Hiring

Click here if you would like to join one of the fastest growing blockchain news companies in the world!