Home Finance How the Crypto Market is Boosting AMD and NVIDIA Profits

How the Crypto Market is Boosting AMD and NVIDIA Profits

Ethereum - Virtual Money - Cryptocurrency - 3D Rendering

Ethereum is sitting at $1,048.51 per token right now. This shows that Ethereum grew by 1.53% in the last 24 hours. Moreover, the total market cap for Ethereum is valued at $101.9 billion. While things might be looking good for Ethereum investors, the crypto market is unpredictable and everything can go south in no time.

Just take for example the begging of January when the entire market crashed. No one was expecting that, especially the people who invested large sums of money in cryptocurrencies. Nonetheless, there are two companies which are not affected by this cryptocurrency downswings, AMD and Nvidia.

AMD and NVIDIA Profiting from Ethereum

Even though neither AMD nor NVIDIA are directly involved with the cryptocurrency market, their high-end GPUs (graphics processing unit) are. The only people who are making a steady income from cryptocurrency are miners, and Ethereum miners are known to favorize the GPUs made by AMD and NVIDIA.

Profitable Market

As an overall, the price for Ethereum is actually in the green zone over the past year. Ethereum grew by a total of 8,900% in during 2018 which made mining more profitable than ever. Therefore, miners can afford more expensive GPUs.

Miner Profits

Numerous reports are showing that Ethereum miners receive somewhere around $1.76 per day in profits for each GPU owned. The reason why AMD and NVIDIA GPUs are favorites here is because they reduce electricity costs to around 70 cents per day.

With that being said, the cryptocurrency market is making the tech market more profitable every. If the price for Ethereum will skyrocket during 2018, the new can be sure that AMD and NVIDIA will see some profits as well because miners will feel the need to upgrade their GPUs or to expand their “farms”.