AMD: Cryptocurrency mining is not seen as a factor of long-term growth
Chip maker AMD records sales growth in recent months due to increased demand for graphics cards among miners.
According to the latest financial report, AMD recorded $ 1.22 billion in revenue in Q2 2017, up 19% from last year. The company says growth is driven by “increased revenue in the graphics and computing segments.”.
And yet, cryptocurrency mining is not a long-term development for the company, according to Lisa Su, AMD President and CEO, who spoke out this week about the company’s revenue growth phenomenon..
This state of affairs may change depending on how the situation develops in the coming months..
Su says, “When it comes to cryptocurrencies, we are seeing an increase in demand. But it’s worth noting that we did not include cryptocurrencies in the forecast, and we do not see them as an opportunity for long-term growth. But we will definitely continue to follow the development of blockchain technology. “.
Mining is an energy-intensive process during which new transactions are added to the blockchain. For the creation of new blocks, miners receive a reward in the form of new tokens, earning on the difference between the cost of electricity and the market value of tokens.
Most of the demand for video cards, or GPUs, comes from Ethereum miners. Bitcoin mining, by comparison, is carried out by special computers that are created exclusively for this task..
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