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Friday, June 16, 2017

AMD shares are surging with bitcoin because digital currency 'miners' need its graphics cards

AMD shares are surging with bitcoin because digital currency

AMD shares rose as much as 7 percent Tuesday after the company revealed the dramatic jump in digital currency prices is driving demand for its graphics cards. The stock was the top performer in the S&P 500 on the day.

"The gaming market remains our priority. We are seeing solid demand for our Polaris-based offerings in the gaming and newly resurgent cryptocurrency mining markets based on the strong performance we are delivering," an AMD spokesperson wrote in an email to CNBC late Monday.

Ethereum cryptocurrency is up over 2,900 percent year to date through Tuesday morning, while bitcoin is up nearly 200 percent this year, according to data from industry website CoinDesk.

The digital currency jumped more than 8 percent at one point Tuesday to a record nearing $3,000.

Full story at http://cnb.cx/2sgZvrJ

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