Monday, March 26th 2018
NVIDIA, AMD to Face Worsening Investment Outlook as Bitmain Preps to Launch Ethereum ASIC
Analyst firm Susquehanna has cut AMD and NVIDIA's share price targets on the wake of confirmed reports on Bitmain's upcoming Ethereum ASIC. There's been talks about such a product for months - and some actual silicon steering as well that might support it. Susquehanna, through analyst Christopher Rolland in a note to clients Monday, cited their travels in Asia as a source of information.
This has brought confirmations that "(...) Bitmain has already developed an ASIC [application-specific integrated circuit] for mining Ethereum, and is readying the supply chain for shipments in 2Q18." And it doesn't seem Bitmain is the only company eyeing the doors of yet another extremely lucrative ASIC mining market: "While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development."
Rolland believes Bitmain's specialized chip offering for Ethereum will hurt demand for PC graphics cards - as well it should, since it stands as much a status quo breaker as Bitcoin mining ASIC were at the time of their introduction. Rolland further estimated that ethereum mining-related sales accounted for about 20% of AMD's sales and 10% of NVIDIA's revenue - strong numbers that if declining, would surely impact share value and company valuation. As a result, the analyst lowered his price target for AMD shares to $7.50 from $13, representing a 29% reduction from Friday's close. Forecast for NVIDIA shares was also reduced to $200 from $215, but NVIDIA didn't see a downgraded state - it remained at neutral - while AMD was downgraded from neutral to negative. The reasoning? "NVIDIA has a stronger and more durable gaming franchise which would help it work through this potential Ethereum-related unwind," he wrote.
Source:
Yahoo Finance
This has brought confirmations that "(...) Bitmain has already developed an ASIC [application-specific integrated circuit] for mining Ethereum, and is readying the supply chain for shipments in 2Q18." And it doesn't seem Bitmain is the only company eyeing the doors of yet another extremely lucrative ASIC mining market: "While Bitmain is likely to be the largest ASIC vendor (currently 70-80% of Bitcoin mining ASICs) and the first to market with this product, we have learned of at least three other companies working on Ethereum ASICs, all at various stages of development."
70 Comments on NVIDIA, AMD to Face Worsening Investment Outlook as Bitmain Preps to Launch Ethereum ASIC
And as a previous poster mentioned with Monero (CryptoNight), the programmers will likely change the ability for ASICs to mine. Us true crypto-miners use GPUs and are independent from the Mining Cartel that is Bitmain, Baikal, etc. We don't want a monopoly in crypto or in crypto-mining, otherwise we'd just use our funny money (fiat paper dollars)
I haven't betted big or anything though.
Shit happens, we roll on , if it went bust tommorow I would have the bench off I've been waiting for.:D
None of these coins will probably last but its a necessary step to advance science and further de-power corrupt governments. CureCoin is at least already helping cure diseases.
folding.stanford.edu/stats/teams-monthly
folding.stanford.edu/stats/teams
folding.stanford.edu/stats/ospeople's entitlement and hatred for people using their money and making free/voluntary exchanges among people will never make sense...but statist will be statist i guess.cool story bro....too bad its completely made up but cool story. Glad you have sheep following you too. It must be the avatar....the just gravitate to it.
As one person put it so eloquently... Mo' money Mo' problems. Notorious BIG
What they do acomplish however, looking back historicaly, is break the decentrilization of the network by consolidating the power in the hands of the ASIC holders. Historically speaking this has not ended well, and miners and gamers alike should both be wary. This is not an answer to either sides woes.I really don't see helping run a payment network as "contributing to greed."