Because companies like Bitmain manufacture dedicated ASICs which are much, much more efficient at mining cryptocurrency than GPUs, therefore eliminating the market for GPUs as cryptocurrency devices, as well as the crashing value of cryptocurrency.
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In a way Radeon Instinct is a dedicated Compute (which includes Blockchain) Accelerator Card., and it's a damn sight more efficient for said task then your Discreet Graphics Card typically used for Gaming.
While this is an option that Professional Blockchain Companies will opt for., the key reason that the Desktop / Discreet Market was so adversely affected was because of the Blockchain / Bitcoin Mining Phase, where it wasn't just Professional Blockchain Consumers but it was regular Joe' who like the Gold Rush will simply dive headfirst into such because they see it as a means of making some "Easy Money"., because let's be honest here... any fool with a 1200w PSU, Crossfire Motherboard and 4x RX 580 can mine away with ZERO technical expertise. All you need is that initial capital.
Now, as was the case with every other Bitcoin Gold Rush., eventually the "Casual" Miners will back out when it begins to take too long to mine further.
At present Graphics Cards aren't expensive because of Blockchain or Bitcoin., they haven't been for a while now as that peaked in Q4 2017... instead there are three reasons for the rise in MSRP.
First being Global Foundries are no longer producing CPU/GPU for the General Market.
This means only Samsung and TMSC remain as key fabricators; and they have limited facilities for ALL Production Lines they're currently working on... and by the basic dictates of Supply-and-Demand; when Supply is Low and Demand is High, Prices Rise; mainly because they can, but also because Production Costs Lower with Higher Production Volumes.
Second with the rise in Compute / Blockchain / Cloud Computing., this means Servers are expanding at an exponential rate; and Servers are more valuable Customers than General Consumers. Thus more Supply is going to the Higher Demand from Servers for RAM.
Third is RAM Manufacturers (Samsung, Micron, SK-Hynix, etc.) are essentially taking advantage of said rise in Professional Demand, dedicating far more Supply in that Direction; while also seeing an opportunity to create a False Shortage thus rise Prices within Consumer Demand Markets. When you compound this with the current Tick towards GDDR6 / DDR5 … well eh, yeah a further excuse for such. Not to mention the tightening of Monopolies as the Market as a whole becomes far too expensive for Competition to really keep pace.
I'd argue to get around such, there really needs to be Regulation that each Process Node *must* have Open Specification and Design available to all... while individual Node optimisation can remain internal / protected.
So for example 7nm should be open; but 7nm+ could be internal... this would drive the need for innovation but still provide a competitive platform for alternative fabrication plants to operate without having to heavily invest in R&D towards such., meaning that Mass Produced Chips (like Consumer DRAM) could be produced anywhere; while Professional Quality would remain with the most competitive groups.
Now should AMD delve into a Mining "Range"? Eh., no.
And it's not as suggested above, because of Professional Blockchain ASIC as actually they're general trash.
Rather it's because., Mining simply isn't a stable market that generally can't be predicted or catered to as new Bitcoin Formats emerge.
Instead what AMD should do instead, is unlike NVIDIA who use their Cloud Server to provide support for GeForce Now! (Game Streaming)., to instead provide their own Cloud / Blockchain Server as a Rentable Service., for example Bitcoin Mining; where it Cloud Blockchains., but is only available to those who say own a Radeon Instinct (even a low-end). You can actually pick up such Servers for < $2,500; which is about the same as the above "Home Blockchain Server" noted above; but without affecting the Gaming Market., in said regard the overhead (as they're low-powered servers mostly) would be relatively low... AMD gets to directly earn from a Subscription Service; plus Gamers have Cards available because idiots trying to jump on a bandwagon are buying them all up.
It's far more productive than say a Cloud Gaming Service., which has been rumoured.
Given they could also offer it as a "Compute" / "ROCm" Platform., and/or Render Farm., and/or Build Farm., etc. well it turns their showcase Server that they made for a publicity stunt into a really good source of revenue that can be as adaptive and shift with the market... plus can also be upgraded with New Hardware BEFORE it's available to the Public (like Gamers).
Still, that's just what I'd recommend they did.