AMD steps up to solve graphics card shortages

Earlier this month, AMD announced that they are aware of the graphics card shortages and boosted prices in the market and they will try to increase the graphics card manufacturing.

Recently, AMD released their earnings from the last quarter of 2017 an announced of $1.48 billion revenue. This corresponds to an about 33 percent year-on-year increase. In our Cryptocurrency News February 2018 post, we mentioned the price increase in the NVidia and AMD graphics processing units (GPUs). Over the years some of the most popular NVidia graphics cards had dramatic price increase:

  • GeForce GTX 1050 Ti – 27 percent
  • GeForce GTX 1060 3GB – 86 percent
  • GeForce GTX 1060 6GB – 89 percent
  • GeForce GTX 1080 Ti – 59 percent

Similarly, AMD also had to deal with graphics card shortages and price increases. It is known that this high demand was mainly driven by end-users that mines cryptocurrencies like Ethereum. AMD launched two cards from RX Vega series (Vega 56 and Vega 64) in August 2017. It is also reported that two graphics cards in that line have been sold out.

Cryptocurrency mining is becoming extremely complex for the architectures of the graphics cards as their performance rises and approaches its limits. Competition in mining the coins is also impacted by the number of coins available. For instance, it is known that there are 21 million Bitcoins available in total and currently 17 million of them are in circulation. Moreover, as more hashing power is deployed by the network of miners, finding a new block becomes more difficult.

CEO and President of AMD Dr. Su recently stated that their manufacturing is not limited by the silicon materials they are using. Nevertheless, there is a shortage of GDDR5 and HBM2 memory, which is used in the RX 400 and RX 500 series cards. Dr. Su added that they intend to work through this limitation with their memory suppliers. Beyond any doubt, if AMD can increase their production level and solve graphics card shortages, both miners and gamers will benefit from this.

Cryptocurrency News February 2018

In our latest article Cryptocurrency News February 2018 we discussed the success of Ethereum in the beginning of the year, reasons for the recent price increase in GPUs, and governments’ approach for cryptocurrency trades.

The final quarter of 2017 was a huge success for almost all cryptocurrencies. Nevertheless, in the beginning of 2018 Bitcoin had a dramatic drop, causing a stress in the whole market. Several alternative coins, like Ethereum, survived the instability of the market. There are different theories going on about why these alternative coins were not impacted as much as Bitcoin. Beyond any doubt, some portion of the small investors who sold their Bitcoins as soon as the price started to decrease, carried their investments to these alternative coins. It is uncertain whether this trend will carry on but miners can make wise investments to increase their profit.

Cryptocurrency miners are well aware of the price increase in the NVidia and AMD graphics processing units (GPUs) in the last couple months. Looks like this trend also had an influence on cryptocurrency miners to invest in alternative coins. For instance, mining Ethereum is known to be more profitable compared to Bitcoin. In fact, the profitability of the mining Ethereum is still so high despite the small price drops. As a result, GPU choices of these miners had a huge impact on NVidia and AMD prices.

The approach of big countries towards cryptocurrency trade is a hot topic. This does not necessarily mean policies of countries will impact the prices of coins. In the beginning of this month, it was reported that China started to block access to major cryptocurrency trade markets. The reason for this ban was to prevent the “financial risks”. On the other hand, in the last couple months regulations of the United States usually aimed to make cryptocurrency industry safer instead of restricting it. Surely, in 2018 we will see how these different approaches will impact the market.

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cryptotech.ca

Our new address is cryptotech.ca

We have just moved our website and shop to cryptotech.ca in order to serve you better.

We have been implementing some updates on our website and branding over the past few weeks! As a consequence, we have decided to move our website to https://www.cryptotech.ca/ address. All the links we previously had been redirected to our new domain!

Just like before, we will keep offering our expertise on cryptocurrency mining. You will find most recent trends and updates on cryptocurrency mining equipment in the Blog section. Starting with next week, we will post big news of the February 2018 and discuss the fall of Bitcoin!

If you need to reach us for sales, support, or for any other inquiry, visit Contact Us page and fill the form.

Finally, you can follow us on Facebook, Twitter, Instagram, or Google+ to get instant updates.

As always, we are looking forward to bringing you most recent updates and opening the gates of high profit for you!

Cryptocurrency News January 2018

Read our latest article Cryptocurrency News January 2018 in order to learn about the huge price drop in Bitcoin, its impact on other coins, and how crypto mining industry will be impacted by these changes.

Earlier this month, in our “What will Bitcoin be worth in 2018?” post, we have discussed possible scenarios for Bitcoin in 2018. Some argued that Bitcoin is simply a bubble that people should not trust. Sexo Bank, a Danish Investment Bank that is famous for their Outrageous Predictions lists, predicted that the price of the Bitcoin will fall down to $1,000 in 2018. If the current trend is the beginning of their prediction, it is a little bit early in the year.

On the other hand, some argued that the price of the Bitcoin will rise to $40,000 (and even to $100,000 eventually) after its debut in major exchanges. To be honest, the trend in the first three weeks of 2018 doesn’t look promising for $100,000. Bitcoin had a peak value of $19,343 on December 16, 2017. After a month, it was reported that the price of Bitcoin briefly dropped under $10,000 on January 17, 2018. After the huge drop on January 15th, the price of the Bitcoin seems to be stabilized between $11,000 and $12,000.

Meanwhile, almost all other cryptocurrencies are also suffered from this trend. Indeed, most of them had double-digits price fall on the same day. Etherium, Ripple, IOTA, and DASH are some of the cryptocurrencies in the top 20 based on coin market caps, which impacted by this trend. Just like we didn’t have a clear idea of why the price of the Bitcoin (and other cryptocurrencies) was rising so rapidly in the last quarter of 2017, we are unsure of the driving forces for this drop.

Despite this market slide, many manufacturers and industry leaders foresee that cryptocurrency mining will keep its rise in 2018. Apart from the price of the cryptocurrencies, energy consumption is still one of the biggest factors for mining. Moreover, more companies are investing in blockchain solutions and supporting cryptocurrencies.

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What is crypto mining?

Cryptocurrency news has been a hot topic lately. A lot of people heard cryptocurrencies in the second half of 2017 with the rise of Bitcoin. Beyond any doubt, these coins are valuable, but how are they produced in the first place? In our what is crypto mining post, we will cover some of the basics of cryptocurrency mining.

All cryptocurrencies work on something called blockchain. It is simply a shared ledger or document duplicated several times across a network of computers. In this regard, mining is a bookkeeping service that is done through the use of computer processing power (usually through your Central Processing Units (CPU) or Graphic Cards (GPU) . The consistency of the blockchain is ensured by repeated verification of transactions.

A block contains the hash of the previous block and uses SHA-256 algorithm. This links every block to the previous block, which gives the blockchain its name.

What is block reward?

The transactions that are collected from the network usually has a small fee attached that constitutes the part of the block reward. Also, there is a difficulty level assigned for each solution to the cryptographic hashing algorithm. This difficulty level might scale up or down over time, which eventually affects the block reward. For instance, the target is to generate a block solution in every 10 minutes for the Bitcoin. For Ethereum, on the other hand, block solutions should be generated in every 16 seconds. As you can see there is a huge difference between these two cryptocurrencies. This is one of the reasons for some people to favor Ethereum (or other coins) over Bitcoin.

Beyond any doubt, you do not need to know all these details to start mining. Eventually, all you need to start mining is a cryptocurrency mining software package. However, learning these details may increase your profits.

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What will Bitcoin be worth in 2018

What will Bitcoin be worth in 2018?

Will bitcoin continue its rise? We will discuss and try to answer “What will Bitcoin be worth in 2018?” question in this post.

Beyond any doubt, cryptocurrency community is curious if bitcoin will keep its rise in 2018. As of December 2017, Bitcoin has passed $17.000 limit. It will not be wrong to say that 2017 was the year of Bitcoin. In the beginning of this year, the price of Bitcoin was as low as $800. So what is the next stop for Bitcoin? Some important actors name the rise of Bitcoin in 2017 as a bubble that will burst eventually. For instance, Sexo Bank released its annual Outrageous Predictions list on the variety of topics from politics to finance. In the report, it is stated that Bitcoin will rise in 2018, only to sharply fall down to a mere $1,000. It should be also noted that last year Sexo Bank estimated Bitcoin’s price to be tripled in 2017. They were right, but the rise of Bitcoin just did not stop. However, if you are planning to exchange your Bitcoins with money based on these projections, it is also helpful to remember MalwareTech’s comment.

Will Bitcoin reach $40.000 in 2018?

On the other hand, many people have $40.000 in mind as the price for Bitcoin in the upcoming year. As is known, cryptocurrencies are not tied to a bank or government, but lines of computer code are digitally signed each time they are traded. As a result, Bitcoin made its debut on a major US exchange, Chicago Board Options Exchange (CBOE). This might be a start of another era for Bitcoin if other exchange markets add it to their transactions in 2018. Apart from that, it is known that many people entered cryptocurrency market for the first time by investing in Bitcoin this year. Finally, by looking at the sale numbers and market shares of the Graphic Cards (GPU) manufacturers, this trend is likely to continue for a while.

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Global Crypto Mining Energy Consumption

The cost of mining cryptocurrencies is one of the most important variables for miners. In this post, we have gathered some information to discuss crypto mining energy consumption, as of November 2017.

Recently, crypto mining energy consumption levels of countries have been discussed. The mining process itself is both computationally and energy intensive, especially as the millions of processors worldwide need to be cooled, using even more power. As Bitcoin’s incredible price run is getting closer to $10,000, experts from different fields started to discuss different aspects of cryptocurrency mining. Such attention from experts is understandable considering the fact that as the market for cryptocurrencies grows, people bring more energy-hungry computers online to mine. It was recently reported that Bitcoin’s current estimated annual electricity consumption has passed 30 TWh (that is 30,000,000,000 kilowatt hours) as of November 24, 2017. Considering the fact that the average annual electricity consumption for a United States residential utility customer was slightly above 10,000 kilowatt hours in 2016, this energy can run 3,000,000 houses. In terms of monetary costs, mining cryptocurrencies cost around $1,500,000,000 annually worldwide. However, global mining revenues are over $7,000,000,000.

Earlier this year, there has been news on global cryptocurrency mining uses more electricity than Iceland, Nigeria, and some other countries. Even though the efficiency of Graphic Cards and Central Processing Units (CPU) improve on ongoing basis, number of miners and mining rigs will also increase in the future. One response to this ever-increasing energy demand came from mining farms. Recently, several mining farms started to use renewable energy sources to operate their systems. Such innovation enabled them to offer lower pricing and to attract people who are sensitive to the environment. Nevertheless, it should be noted that cost-benefit curve of these farms still can not compete with having a mining rig. Beyond any doubt, green approaches to make cryptocurrency mining more attractive in the future.

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Cryptocurrency News December 2017

Read our latest article Cryptocurrency News December 2017 in order to learn about the most important updates: the unexpected price drop in Bitcoin, malware warning on Javascript-based browser mining, and possible 2018 value loss for Nvidia and AMD.

At the end of the last month, the price of the Bitcoin dropped more than $1,000 (almost 11 percent) in the span of an hour. Just before this dramatic drop, it reached an all-time high above $11,000. Service outrage of GDAX, Bitstamp, and Gemini was also reported in the social media. This was the lowest price drop in the Bitcoin Price Index (BPI) since November 26 when bitcoin hit a low of $8,757. As of December 2, 2017, the price of Bitcoin is around 10,956.55.

On a separate note, experts warn users about Javascript-based mining malware that is currently distributed by several websites. Hackers hijacking plugins and publishing their malware through thousands of sites in order to use visitor’s Central Processing Units (CPU) power to mine the crypto-currency. Moreover, it was stated that the browser choice of end-users is also important in this forced mining practice.

Among all cryptocurrency mining hardware producers, the competition between AMD and Nvidia is an important one to watch. Highly performance Graphic Cards (GPU) demand from cryptocurrency miners increased the stocks of these producers on Wall Street in the recent years. According to Joseph Moore, Morgan Stanley analyst, this trend might be temporary and we could see an ongoing decrease in 2018. He added, AMD has been tight-lipped about its cryptocurrency risks; whereas, Nvidia has clearly defined its exposure to the cryptocurrency market and has assured investors that its projections incorporate downside risks. It is reported that the overall demand is largely driven by Bitcoin and Ethereum miners and unless the demand for other currencies increases, these companies (and their investors) will experience a hard time in 2018.

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Cryptocurrency News November 2017

Read our latest article Cryptocurrency News November 2017 in order to learn about the most important updates for cryptocurrencies and cryptocurrency mining equipment!

Beyond any doubt, it is an important month for Bitcoin for several reasons. Bitcoin added $41 billion to the market cap and hit an all-time high of $7,998.40 on November 17, 2017. Two previous forks have already happened earlier this year, leading to the creation of Bitcoin Cash and Bitcoin Gold. Bitcoin Gold blockchain was launched on November 12, 2017 by the developers that created the fork. The team backing this project made the announcement earlier this month in their blog post and added:

“We are extremely grateful for the community around the world who have been contributing hash power to our testnets; besides patiently testing their own mining process, they allow exchanges, pools, wallet developers, and all other service operators to implement and test their support of BTG so that the Bitcoin Gold community can have a full suite of services at launch time. Thank you to all those who have donated their hash power to this effort! We’d also like to extend our gratitude to all those service providers who have been working so hard with us to prepare a fully functional ecosystem at launch.”

News from cryptocurrency mining hardware manufacturers

There are also important news from two big Graphics Processing Unit (GPU) producers Nvidia and AMD. On November 9, 2017, Nvidia released its third-quarter results and it is noted that revenue for cryptocurrency mining-related products was dropped to $70 million, from $150 million during the second quarter. The company’s chief executive officer, Jen-Hsun Huang, suggested that this decline was mainly caused by an up-and-down market that is susceptible to shifting demand. On the other hand, AMD reported a 74% increase in the third quarter of 2017, compared to previous quarter. The increase in the sales of the Vega 56 and Vega 64 was especially noted in this quarter.

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cryptotechgear

cryptotech.ca is online!

We just launched our website and shop cryptotech.ca in order to offer you our expertise in cryptocurrency mining business.

Cryptocurrency mining is a fun and profitable business with high-performance bitcoin mining hardware and machines. cryptotech.ca is the right place for you to find the best hardware for cryptocurrency mining. Beyond any doubt, this industry is highly competitive especially for well-known coins like Bitcoin. Our expertise and advanced cryptocurrency mining systems will enable you to have a great cryptocurrency mining experience!

Cryptocurrency mining is an arms race and it rewards early adopters. If you wait too long to join the mining gold rush of a particular coin, the system difficulty will prevent you from profiting.

At cryptotech.ca, we offer you our expertise to take your place in this competition. You can visit our Shop to find most advanced cryptocurrency hardware. We are selling and distributing specific products for cryptocurrency mining, such as Central Processing Units (CPU), Graphics Processing Units (GPU), Motherboards, Power Supplies, and Cases.

In order to read more about CRYPTOTECH, you can visit About Us page and also check the short history of cryptocurrency mining!

We are going to publish regular articles in our Blog section. If you are new to cryptocurrency mining, this section will help you a lot. We will cover many issues from basics to more advanced details. Also, these posts will enable you to watch cryptocurrency mining industry closely.

In order to have most recent updates about cryptocurrency mining, hear about our blog posts, and receive exclusive offers, you can join our newsletter. We promise that we will not send you spammy e-mails 🙂

If you need to reach us about sales, support, or for any other inquiry, visit Contact Us page and fill the form.

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We are looking forward to offering you high-performance cryptocurrency hardware that will open the gates of high profit.