Key Points
- AMD’s high core count Ryzen CPUs in high demand from crypto miners
- Specific algorithms like RandomX favour AMD’s CPU architecture and multi-core design
- Supply shortages and price hikes observed for AMD’s flagship Ryzen 9 7950X CPU
The crypto mining craze has made an unexpected comeback, and this time, it’s not just graphics cards that are in high demand. AMD’s powerful Ryzen CPUs, particularly the high core count models, are being snatched up by miners looking to cash in on the latest surge in crypto prices.
AMD CPUs Favored for Certain Mining Algorithms
As per PCGamer, While graphics cards have traditionally been the go-to hardware for cryptocurrency mining, certain algorithms like RandomX, used by Monero and other proof-of-work (PoW) coins, thrive on CPUs with high core counts and advanced instruction sets like AVX.
Supply Shortages and Price Hikes for AMD CPUs
The surge in demand for AMD’s high-performance CPUs has already started to impact supply and pricing. Reports indicate that the flagship Ryzen 9 7950X is out of stock at major retailers like Newegg, with the listed price higher than its original $699 launch price, reaching $741.
Interestingly, this supply constraint comes well over a year after the 7950X’s initial launch, suggesting that the demand side factor is the driving force behind the shortage, rather than production issues.
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The Resurgence of Bitcoin and Crypto Mining Profitability
The renewed interest in cryptocurrency mining can be attributed to the recent surge in Bitcoin prices, which recently hit a new all-time high of $73,000. As Bitcoin’s value rises, it tends to have a ripple effect on the broader cryptocurrency market, including lesser-known altcoins that become profitable to mine.
With the potential for even modest gains through mining, enthusiasts are dusting off their old mining rigs or assembling new ones, driving up demand for hardware like AMD’s Ryzen CPUs.
As the crypto craze continues, there are speculations that AMD might take a page from Nvidia’s playbook and introduce “low hash rate” versions of its upcoming Zen 5 CPUs to deter mining on consumer products. However, AMD has traditionally been more hands-off when it comes to mining, leaving the decision to its customers.
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