Ethereum miners purchasing advanced micro devices (AMDs) are helping to push their share prices up with some miners leasing Boeing 747s to ship the devices out quickly for them to be plugged in to the network.
According to a report from Quartz, AMD shares rose by 11 percent on 25 July; however, over the last 12 months the firm’s stock is reported to be up by more than 152 percent. This makes it the fourth best performer on the S&P 500.
Lisa Su, AMD’s chief executive, said the company had seen an increase in the purchase of AMDs from digital currency miners.
While management wasn’t specific on how much, the [graphics processor unit] revenue upside was driven by cryptocurrency applications.