Demand for mining equipment accounted for 10% of the profit of the company-manufacturer of processors and video cards AMD in the I quarter of 2018. This is reported by Coindesk
The strength in Radeon products was driven by both gaming and blockchain demand. We believe blockchain was approximately 10% of AMD revenue in [the first quarter of] 2018.
AMD published a financial report for the I quarter of 2018 on the eve. As follows from the document, the company's profit for this period was $ 1.65 billion, which demonstrates growth in the for 40% year on year.
Kumar also noted that the overall demand for "gaming and blockchain" led to a 95% increase in the company's revenues in the market of graphics cards and computers in annual terms. At the same time, according to the AMD financial director, the company expects "modest decline in graphics [revenue] due to blockchain."
AMD believes that throughout the year 2018 the profit from mining equipment sales will be less than 10%.
Based on the strength of our business momentum, for the full year 2018, we now expect revenue to increase by mid-20s[%] over 2017, driven by the ramp of our new products. Blockchain revenue to be mid to high-single-digit percentage of revenue for 2018.
AMD CEO Lisa Su expressed herself more optimistic about the future of AMD in the blockchain market.
I do think the blockchain infrastructure is here to stay. I think there are numerous currencies. There are numerous applications that are using the blockchain technology. We don't see a significant risk of secondhand GPUs coming into the market. I think what you find is that, one, there are number of different currencies, and, two, a lot of these users that are buying GPUs these days are actually buying them for multiple use cases, both commercial and consumer.
As previously showed by the study of the analytical firm Jon Peddie Research, the miners helped AMD reduce the market gap from Nvidia. At the same time, AMD shares fell in late March amid news about the successful development of ASIC-miner for Ethereum from Bitmain.