Why Cryptocurrency Mining As A Service Is The Way Forward For AMD
Cryptocurrency mining boom is still going strong and the best GPUs for mining are those from AMD. AMD GPUs have the best hash-rate and these include the AMD RX Vega 64 and AMD RX Vega 56 that are on top of the charts. This is one of the reasons why these GPUs are out of stock, miners have bought every graphics card they could get their hands on.
Ether cryptocurrency still trades above $300 even though a couple of countries including China have banned Initial Coin Offerings. Governments are now assessing whether the Cryptocurrency mining boom will have an effect on their ability to control peoples wealth. Looking at things realistically, it is unlikely that the government will be able to control the Cryptocurrency mining boom.
AMD, on the other hand, can make some money off this opportunity. Keep in mind that AMD is a business at the end of the day and any opportunity that is not taken advantage of will be considered a loss of the company. Plus this aligns in the best interests of the company because at the end of the day they need to sell products.
Nvidia will not be releasing Volta based GPUs this year and this gives AMD a short window in order to capitalize on the market. This window is getting smaller as graphics cards shipments are not coming in and people are wondering if they should even wait of AMD Vega GPUs or buy Pascal graphics cards instead.
Ether is very profitable especially if you are using solar or wind power sources. Furthermore, China has introduced some very cheap solar panels that reduce the cost of mining overheads dramatically. We have seen the growth potential in cryptocurrency mining and it is safe to assume that this growth is going to continue at least in the upcoming months.
Due to cryptocurrency mining, AMD was able to gain market share in Q2 and that should also be the case in Q3 and Q4. Cryptocurrency mining is very lucrative and people can always start small and expand later on which is one of the perks.
We have already seen mining specific motherboards and graphics cards being marketed and sold and they also feature some mining specific features. It is safe to assume that graphics cards sales are going to stay strong in the upcoming months and AMD will be able to take advantage of this, if only they could get new batches to the market.
Cloud mining services is a thing of the future and service providers like Genesis Mining will be competing with plenty of data center operators. We found out recently that Pirates Bay was using visitor’s CPUs in order to mine cryptocurrency so you can imagine the applications and profit of getting into cloud mining.
It is just a matter of time before cryptocurrency mining businesses come out and I think that AMD could benefit from that too. The company has the resources to pull off cryptocurrency mining as a service and it is not an idea that we have not seen implemented before. Microsoft did something very similar with the Windows platform and so far it is going fine.
Let us know what you think about cryptocurrency mining as a service and whether or not you think AMD will be able to full it off.