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November 15, 2018 
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Analyst: Miners bought over $500 million worth of GPUs in Q4 2017

Posted on Thursday, January 18 2018 @ 21:07:48 CET by

Susquehanna Financial Group analyst Christopher Rolland writes both NVIDIA and AMD benefited royally from the cryptocurrency boom in Q4 2017. Rolland estimates miners purchased more than $500 million worth of video cards in Q4 2017, and likely another $200+ million in the first few weeks of 2018.

As I wrote earlier this week, the price of many high-end video cards is once again hitting crazy prices as miners are buying everything they can get. Over at Newegg, it's not rare to see GeForce GTX 1070 cards for $999 or even more.

The high video card pricing is the result of mining profitability remaining among the highest in history. There's a lot of extra demand for AMD and NVIDIA video cards, and supply isn't able to keep up. Sadly, for gamers this means heavy mark-ups in the retail channels.
“We believe the confluence of these factors portends upside to both AMD’s and NVDA’s C4Q17 results (and perhaps 1Q18 guidance),” Rolland said. “However, we also note substantial longer-term risks for both companies as mining profitability may have induced ‘false purchases’ of more and higher-priced cards.”



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