Bitcoin has been becoming popular and increasingly profitable in these past couple of months and this increase in cryptocurrency trend is driving demand for AMD GPUS and as of Monday, the AMD RX 570, as well as RX 580 GPUs, are sold out at computer hardware retailers including Newegg, Best Buy and Amazon.
Miners use GPUs from AMD and Nvidia in order to mine new coins and AMD GPUs are especially used by these miners. These coins can be used for selling purposes or kept for further appreciation. Bitcoin is up 160% this year and this is not the first time that cryptocurrency has increased demand for GPUs.
By the end of 2013 cryptocurrency caused a similar demand by snagging any AMD GPU they could get their hands on. This is not only the case with new AMD GPUs but the older GPUs are also being affected. The previous generation AMD RX 470 graphics cards are being sold on eBay for way more than $100. Sellers are taking advantage of this trend by adding cryptocurrency names to product listings.
AMD spokesperson wrote to CNBC stating:
The gaming market remains our priority. We are seeing solid demand for our Polaris-based offerings in the gaming and newly resurgent cryptocurrency mining markets based on the strong performance we are delivering.
The AMD RX 570 and RX 580 GPUs are out of stock and there is little information regarding when the new shipment will be hitting the market. Seeing how the release was a new one it is no surprise that the GPUs are out of stock. AMD stock has gone up 170% over the course of the last 12 months.
AMD has released a couple of new products this year and those include the AMD 500 series GPU, the AMD Ryzen CPUs as well as the AMD Threadripper CPUs.
Let us know what you think about AMD RX 570 and RX 580 GPUs being out of stock due to the cryptocurrency trend.