Cryptocurrency Price Surge Could Boost GPU Sales, Says Wall Street Analyst

Prices increases in ethereum, monero and other cryptocurrencies could spark a sales boost for makers of graphics cards (GPUs), according to one Wall Street analyst who covers the market.

In a research note to clients over the weekend, Mitch Steves of RBC Capital Markets argued that recent double-digit percentage increases in prices for some cryptocurrencies could drive more miners to enter the market, as well as drive established miners to expand their capacity by buying new GPUs.

Mining – an energy-intensive process by which new transactions are added to a blockchain – has already resulted in notable sales boosts for companies like Nvidia and Advanced Micro Devices (AMD), as previously reported by CoinDesk.

“We are flagging this now, as the payback period has decreased materially which may lead to continued strength in GPU sales related to cryptocurrency mining,” Steves wrote, adding: […]

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