Leading research company wall Street lowered its forecasts for the stock of chipmaker Nvidia and AMD, claiming that she had received confirmation that Bitmain has started to make an Ethereum ASIC miners.
According to Susquehanna analyst Christopher Rolland of (Christopher Rolland), the largest manufacturer of Bitmain miners after a few months it will be ready to start the supply of new equipment for cryptocurrency mining compatible with the algorithm Ethash used by Ethereum and other virtual currencies.
Rolland added that at least three other manufacturers are also beginning to develop the Ethereum ASIC miners:
“During our visit to Asia last week we were able to confirm the successful completion of a company Bitmain ASIC miner for Ethereum. Now they are establishing the supply chain, and the product will go on sale in the second quarter of 2018… Bitmain is likely to be the largest supplier of integrated circuits for special purposes (currently, it produces 70-80% ASIC for bitcoin mining). It will be the first, presenting the new product on the market. However, we learned at least three other companies are also working on an Ethereum ASIC. They are all in different stages of development”.
Still Ethash was ASIC-resistant, allowing you to extract air and other similar cryptocurrencies using chip graphics processors, which are commonly used in gaming computers.
Nvidia and AMD as the GPU manufacturers have been quicker to benefit from last year’s price boom of cryptocurrencies that has had a positive effect on mining.
Although the release of Ethereum ASIC miner may not lead to a drop in demand for graphics processors, but may have a significant impact on the income of AMD. The company released the annual report in which he warned that the demand on the GPU “will suffer greatly” if the miners will stop buying them.
Therefore, Susquehanna has changed forecasts on AMD shares to $7.50 from $13, and NVIDIA up to $200 from $215.
Recall that Monero has decided to fight with the centralization of the production of ASIC devices and promised to regularly change their algorithm of mining for the maintenance of ASIC-resistance.