Cryptocurrency miners spent $776m buying 3m GPUs in 2017

Bitcoin Hash Rate

JPR says gaming is the primary driver for GPU sales but crypto-miners bought 3 million graphics cards past year having a big impact on pricing.

It's estimated that around three million graphics cards were sold for mining purposes in 2017, equal to about $776 million in sales, but gaming remains the main reason for GPU purchases.

Tech Radar says that cryptocurrency miners continue to change the landscape of the GPU market, and are pushing AMD's GPU sales to record highs.

Nvidia has reportedly floated the idea of developing graphics cards designed exclusively for GPU mining in order to offer an alternative for crypto miners, so gamers aren't priced out of the GPU market entirely. Starting today, everyone who picks up one of AMD's select pre-built systems with Radeon RX Vega 64, Radeon RX Vega 56, or Radeon RX 580 graphics cards will receive a free copy of the upcoming game.

It's no secret that cryptocurrency mining became a dominating trend of 2017, disrupting the gaming scene by causing a shortage of graphics cards that in turn resulted in gross inflation for the remaining few. "We expect demand to slacken from the miners as margins drop in response [to] increasing utilities costs and supply and demand forces that drive up AIB prices".

Analysts Estimates And Ratings Ensco plc (ESV)
The stock is now showing up return of 0.20% throughout last week and witnessed decreasing return of -25.91% in one month period. Litman Gregory Asset Mgmt Limited Liability holds 0% of its portfolio in Campbell Soup Company (NYSE:CPB) for 124 shares.

In the short-term, prices are likely to stay high, unfortunately.

Jon Peddie's report also tells us that the prices of graphics cards are not going to drop anytime soon and this is something that Nvidia has also told us. So that's a bit of a bummer.

JPR noted that GPU shipments did decrease by 1.5 percent in the fourth quarter of 2017 in comparison to the third, although this could be due to general seasonal activity in the run up to the holidays.

AMD's market share rose from 27.2% in Q3 to 33.7% in Q4, while Nvidia dropped by a corresponding amount, falling from 72.8% to 66.3%. Nvidia, however, saw a decline by around 6 percent.

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