Crypto Price Boom and Miner Demand Help Spark AMD Stock Price Surge

75852131 - canada, circa 2017: amd, advanced micro devices


When mainstream news outlets talk about digital currency these days, much of the emphasis is on the cryptocurrency markets and the surging values of digital currencies like Bitcoin. According to Reuters, however, what’s good for digital currency investors has apparently also been good for computer graphic card maker Advanced Micro Devices (AMD). In fact, increased activity in the cryptocurrency markets has contributed to rising stock prices and increased demand for the company’s chips as AMD shares rose by more than 7 percent in Tuesday’s trading.

As my colleague Timothy Goggin reported earlier, Bitcoin began this week by smashing through the $2,900 price barrier – though its value then dropped more than $100 before climbing again to its current press-time price of $2,870. Major coins like Ethereum have also seen impressive price increases in recent weeks. As Reuters notes, that rally has sparked an increased appetite for AMD graphic cards from digital currency miners.

AMD representatives reportedly told CNBC that cryptocurrency miner demand is a driving force behind increased graphic cards sales – though the gaming market continues to be the company’s main focus. AMD cards are popular with many cryptocurrency miners. The cards are now in such great demand that CNBC reports that several major computer retailers have sold out their entire stock of several of the most popular AMD graphic cards.

Author: Ken Chase

Freelance writer whose interests include topics ranging from technology and finance to politics, fitness, and all things canine. Aspiring polymath, semi-professional skeptic, and passionate advocate for the judicious use of the Oxford comma.

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