Report: Crypto Miners Bought 3 Million GPUs Last Year

Report: Crypto Miners Bought 3 Million GPUs Last Year


More than 3 million graphics cards have been sold to cryptocurrency miners in 2017, with sales reaching $776 million, a new report revealed. According to a major manufacturer, prices of GPUs will continue to increase in 2018, despite expectations of decreasing demand in the mining sector.  

Also read: AMD Increases GPU Production to Match Crypto Mining Demand

Rising Mining Costs to Slow Down Demand

Over three million Graphics Processing Units (GPUs) have been sold to cryptocurrency miners last year, Jon Peddie Research announced in its latest report. The total sales of video cards have reached $776 million, according to the market research firm, which does not expect prices to go down in the near future.

The study covers data from the top three producers of GPUs – AMD, Nvidia and Intel. Recently, Advanced Micro Devices acknowledged shortages of its Radeon cards because of their use in mining applications. The company plans to increase their production, as reported.

Report: Crypto Miners Bought 3 Million GPUs Last YearAMD’s main competitor, Nvidia, admitted the demand by miners had exceeded its expectations in the last quarter of 2017. In an attempt to guarantee that gamers would be able to get their share, the company asked retailers to limit the number of graphics cards that can be purchased at a time. Miners usually buy the latest GPU’s in bulk, leaving empty shelves.

Nvidia CEO Jen-Hsun Huang has said that the company is working to address supply issues. It has been reported that Nvidia may reveal a new “Turing” card dedicated for mining. GPUs are mainly utilized in mining altcoins like ethereum and monero, as bitcoin requires more powerful, specialized hardware.

The report also says that overall GPU shipments in Q4 have decreased by 1.5% from the previous quarter and 4.8% year on year, mainly due to lower sales in desktop and notebook applications. However, the indicator is still above the ten-year average of -3.40%. While the market shares of Nvidia and Intel have shrunk by 6% and 2%, respectively, AMD has seen an 8.1% increase.

GPU Prices to Go Up This Year

According to the president of the market research company, “gaming has been and will continue to be the primary driver for GPU sales, augmented by the demand from cryptocurrency miners.” Dr. Jon Peddie expects a decrease in that demand, as margins drop with increasing utilities costs, while the prices of GPU’s go up because of short supply. He also said that gamers can offset those costs by mining when not gaming, but prices will not drop in the near future.

Report: Crypto Miners Bought 3 Million GPUs Last Year

Nvidia has also stated that GPU prices will continue to go up in 2018, according to some publications. The hardware marketplace Massdrop claims the manufacturer informed them to expect prices to continue rising through the third quarter of the year, as reported by many tech sites.

The availability of memory for the graphics units is another major factor that can influence supply and price rates. Shortages of RAM have already been reported. AMD has announced it would work with suppliers to overcome the deficit, as the two main types of memory used in its RX cards, GDDR5 and HBM2, are in short supply.

What are your expectations about the development of the GPU market? Tell us in the comments section below.

Images courtesy of Shutterstock. 

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Blockchain’s One Day Developer Conference

Code Block

Calling all developers: have you been curious about block chain technology and its many applications? Join us on Saturday, March 24th for Code Block, a full day of educational programming that will bring together the brightest engineering talent across a wide range of industries.

Held in the heart of London, Blockchain’s one-day developer conference will give you an inside scoop on block chain technology through hands-on sessions and presentations led by experts across the digital currency space. Following a packed day of knowledge sharing, you’ll have the opportunity to chat with Blockchain developers and industry leaders.

Whether you’re a developer in banking, a tech startup, or already in the crypto space, Code Block can catapult you into the future of the financial system.

Code Block will be held at Campus London, a Google Space and is a free event. Demand is high and space is limited, so apply now by submitting your LinkedIn and Github here.

We can’t wait to see you!

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Dash Masternode Count Reaches All-Time High in Market Recovery — Dash

This post is also available in: pt-brPortuguês  ruРусский

Dash’s masternode count has reached a new all-time high as the markets begin to recover.

Last December, Dash reached an all-time high of about $1,600 per coin. Over January and early February, the cryptocurrency markets collectively crashed, falling from an all-time high of $835 billion to a recent low of $279 billion. Dash similarly fell to a recent low of $382 during the first week of February, before joining the rest of the market in a recovery. Present price is about $700

Now, a new all-time high in masternodes has been achieved, reaching 4,719 for the first time.

Node count growth represents long-term confidence in the network

Of note during the market swings over the last few months is the stable, and increasing, count of masternodes. Aside from during protocol upgrades when the network can take a week or two to switch to the newest version, masternodes have retained a very stable, and constantly increasing, count over the years. In late December and early February, the node count dropped by about 200, falling to about 95% of its previous count. During the same time period, the price fell from about $1,600 to a brief low of $388, or just under 25% of its previous value. Now, Dash’s present price of $700 is around 44% of its previous all-time high, while its masternode count’s recent high of 4,719 is nearly 1% higher than its December high.

This information can be interpreted in a couple ways. First, it reflects the benefits that the masternode system has for relatively risk-averse investors. Whereas by strictly holding cryptocurrency during a dip traders risk losses, or must incur a certain amount of risk to sell and re-buy at a lower price to make a profit, masternode owners make recurring income for simply not moving their balance. This cancels out minor losses and lessens greater losses, and provides the same general effect as trading during dips (hoping to increase one’s Dash holdings even when the price drops) without the same risk.

Second, increasing node counts represent long-term confidence in the network. Each masternode has historically been valued in excess of $1 million, with prices quickly rising close to once again hitting that mark. Holders holding during times of soaring prices is understandable, however holding during dramatic drops, as well as buying even more at the bottom, indicates a belief that, long-term, the project will at least be a financial success.

Dash has had a fast-paced 2018

In addition to the growth of masternode counts, Dash has experienced rapid ecosystem growth during the new year. In January alone it claimed over 20 integrations and partnerships, a rate of 5 per week. Additionally, Dash has grown rapidly in places like Venezuela, with thousands attending conferences and nearly 100 new businesses accepting Dash.

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Texas State Securities Board Issues Cease And Desist To LeadInvest

February 27, 2018 9:12 PM

On Monday, the Texas State Securities Board issued a cease-and-desist order to LeadInvest. The agency contends that LeadInvest has fabricated its management team and is illegally soliciting investors for a lending program and a cryptocurrency mining operation.

On February 26, 2018, the Securities Commissioner of the State of Texas, Travis J. Iles, signed and entered an emergency cease and desist order to LeadInvest, a suspicious cryptocurrency company with ties to Panama. At the time of writing, the company’s website ( redirects to It is unclear whether the companies are affiliated.

The cease-and-desist order does not mention a specific person or group of people responsible for LeadInvest’s activities, which raises questions about the order’s enforceability.

According to the document, the Texas State Securities Board (TSSB) found that the LeadInvest management team is fictitious. From blockchain advisors to smart contract designers, and from compliance attorneys to marketing staff, the executives are made-up. Headshots of supposed team members were lifted from other websites and names were changed. In most cases, the TSSB redacted the names of the actual people whose likenesses were misused.

It appears that LeadInvest also invented the McAllison Law Firm, using an image of members from a real law firm based in California. Furthermore, the LeadInvest website highlighted its “CodeofEthics [sic] Association,” but the photograph purporting to show its members actually depicts Supreme Court Justice Ruth Bader Ginsburg gathered with former solicitor and deputy solicitor generals.

According to the TSSB, LeadInvest is offering a mining and fiat currency lending program. The website represents that investors can enjoy terrific profitability and earn high interest rates. The operation claims that users have created more than 190,000 accounts and that the company has more than $177 million in its coffers.

While LeadInvest has told investors that it intends to be fully compliant with relevant laws and regulations of the Cayman Islands, the TSSB called this statement “materially misleading or otherwise likely to deceive the public.” Since the company is soliciting investors located in Texas, the Securities Board wrote that LeadInvest must comply with the Texas Securities Act. The supposed crypto company has also not identified the “fund directors” referenced in its statements.

Ultimately, the TSSB concluded that the LeadInvest cryptocurrency mining program and the LeadInvest Fiat Currency Lending Program are “securities,” as defined by Section 4.A of the Securities Act. The agency found that LeadInvest is violating section 7 and section 12 of the act, and is “engaging in fraud in connection with the offer for sale of securities.” The TSSB also asserted that the enterprise’s conduct threatens “immediate and irreparable public harm,” thereby justifying the issuance of the emergency cease-and-desist order.

ETHNews previously reported on the Texas State Securities Board’s cease-and-desist orders issued to BitConnect and AriseBank. In the case of AriseBank, the US Securities and Exchange Commission also filed a complaint against the company.

Matthew is a writer with a passion for emerging technology. Prior to joining ETHNews, he interned for the U.S. Securities and Exchange Commission as well as the OECD. He graduated cum laude from Georgetown University where he studied international economics. In his spare time, Matthew loves playing basketball and listening to podcasts. He currently lives in Los Angeles. Matthew is a full-time staff writer for ETHNews.

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