This is the third Ethereum mining story we’ve published this week. If you haven’t heard crypto-currency Ethereum has really taken off and is the next big craze, much like how Bitcoin was when it started. This has caused Ethereum prospectors to buy out pretty much all inventory of AMD Radeon graphics cards from the market to build their own Ethereum mining machines.
Obviously AMD is the big winner here as they are getting great sales of their current graphics cards, they are literally sold out everywhere! Not only are their sales increasing, but so is their stock price.
Since the massive surge for AMD Radeon graphics cards AMD’s stock surged nearly 9 percent on Tuesday (June 6th). Those who have been shorting the AMD stock have seen major losses. “As of Monday, AMD short-sellers had been up about $15 million for 2017. But Tuesday’s share surge left them at a loss of $125 million on paper for the year,” writes Reuters, citing S3 Partners, a financial analytics firm.
It looks like the whole Ethereum mining craze is a win-win for AMD.