Graphics card giant AMD is courting cryptocurrency mining and has released a series of new cryptocurrency mining products

Graphics card giant AMD has begun its bid to win over the cryptocurrency mining market with a new webpage dedicated to its GPU-based mining rigs and miners.

(Image credit: AMD)

AMD said:

“We are working with existing ecosystem partners to bring blockchain computing solutions to market for a wide variety of use cases and to identify opportunities for new innovative platforms using blockchain.”

Their page shows a mining rig with 14 AMD Radeon RX 470 graphics cards (pictured above), as well as an “enterprise GPU solution capable of accommodating 20 graphics cards and an advanced industrial-grade EATX power supply designed by Rajintek.”

AMD said:

“With the flexibility of blockchain, we are one step closer to a world where data can be efficiently captured and transactions can be secure, making middlemen a thing of the past, as their presence inevitably introduces vulnerabilities and dependencies that are necessary in traditional transaction models.”

They are now entering a highly competitive cryptocurrency mining market where the landscape is very fluid due to the complexity of managing growth and price volatility.

(Image credit: AMD)

For example, the veteran mining pool BTCC recently announced that it would cease operations. They were once one of the largest mining pools in the world, but throughout 2018, their market share has been declining to the point that they now seem unable to sustain themselves.

There are other cryptocurrency mining manufacturers, such as Bitmain, which sells ASIC miners for bitcoin mining. They are doing relatively well, but competition in the Chinese mining market has clearly heated up as Bitmain's competitors have recently launched much more powerful ASIC miners.

When it comes to graphics card mining (mostly used for Ethereum mining), traditional manufacturers like AMD and NVIDIA have dominated. However, both companies have tried to downplay the crypto market and focus on gaming.

That seems to be changing, at least for AMD, which is now more inclined to pursue lucrative business.

AMD's stock price has seen some gains after losing half its value in October on concerns that tariffs would hit it hard.