Chip maker AMD rolled out a new graphics card (GPU) earlier this week – and the product swiftly sold out in minutes.
Tech bloggers closely watched the release of the Vega 56, which was released on popular online marketplaces like Newegg and Ebay on August 28. As expected – given huge demand for GPUs by the world's cryptocurrency miners – the vast majority of listings were unavailable after the first five minutes.
Also exacerbating the situation are reports that manufacturing issues have led to a constrain on supplies for the new Vega card (which was sold in two varieties) and rumors that distributors may be jacking up the asking price to boost their revenues amid the huge demand.
CoinDesk previously reported that companies like AMD as well as rival GPU maker Nvidia have been moving to capitalize on the influx of GPU buyers who are looking to use the hardware to mine cryptocurrencies like ethereum. Mining is an energy intensive process by which new transactions are added to a blockchain, creating new tokens as a reward int he process.
Image Credit: MAX SAYPLAY / Shutterstock.com
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.