RATE Group | AMD Expects GPU Sales to Cryptocurrency Miners to Keep Sliding
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AMD Expects GPU Sales to Cryptocurrency Miners to Keep Sliding

27 Jul AMD Expects GPU Sales to Cryptocurrency Miners to Keep Sliding

Posted at 18:29h in Cryptocurrency News by

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AMD

AMD has disclosed that the cryptocurrency-induced boom for sales of its GPU cards is over, for the foreseeable future.

During an earnings call the Santa Clara, California-based chipmaker revealed that graphics cards sales to cryptocurrency miners declined during the quarter that ended in June. The Graphics Processing Units that AMD and its rival Nvidia make primarily for rendering 3D graphics are preferred by cryptocurrency miners due to their high computing abilities.

Consequently, the company’s Computing and Graphics division saw revenues in the second quarter fall by 3% quarter-on-quarter. Total revenue, however, increased by 53% year-over-year leading to the company’s stock appreciating by 5% after the announcement.

An excerpt from its Q2 report read:

The quarter-over-quarter decline was primarily related to lower revenue from GPU products in the blockchain market.

From Double to Single Digit Growth

In a post-earnings call the chief financial officer of AMD, Devinder…

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