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Esteemed Contributor III

Cryptominers hiring Boeing 747s to deliver GPUs to them (No, it's not fake news)

AMD shares are soaring: Ethereum miners are renting Boeing 747s to ship graphics cards to mines — Qu...

Crypto miners—in particular those mining ethereum, the second largest cryptocurrency by market valuation behind bitcoin—have been in the crypto equivalent of a gold rush since early this year. They are racing to take advantage of ethereum’s exploding price by adding more processing power to their mines. Some of them are even resorting to leasing Boeing 747s to fly the increasingly scarce graphics processors from AMD and Nvidia directly to their ethereum mines so they can be plugged in to the network as quickly as possible.

“Time is critical, very critical,” in mining, Marco Streng, chief executive of Genesis Mining, a major ethereum miner, told Quartz. “For example, we are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity.”

Up for grabs is a supply of roughly 36,000 units of new ether, the digital token associated with ethereum, per day. At current prices of around $200 per ether, that translates to $7.2 million worth of ether that miners compete for each day.

“When building our data centers, we have the highest priority on time,” Streng said. “Time counts so much. We are using the fastest delivery possible. You risk the opportunity to mine for the days you are delayed. If you are deploying 10 days later, you are losing 10 days of mining—that is the cost.”

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Adept I
Adept I

Re: Cryptominers hiring Boeing 747s to deliver GPUs to them (No, it's not fake news)

This just give me a real bad feeling.

I'm really happy for AMD but all the commercial stores here are out of stock of any brand of RX570 and RX580.

How to sell a Full AMD PC when you cant provide AMD graphic cards?

Lots of stores don't even show AMD in the onlinestores or in there real stores in the streets.

I'm looking for to replace my XFX HD7770 wit a RX580 but there is nothing.

Miners, it's a double feeling I get when I read this.