Wednesday, August 2, 2017

Cryptocurrency miners are renting entire Boeing 747s just to stay in the game

Cryptocurrency miners are renting entire Boeing 747s just to stay in the game

In a mining boom, buy the shovels.


It’s one of the oldest investing axioms, and anyone with shares in chipmakers AMD and Nvidia are reaping the rewards right now.


As the price of Bitcoin and Ethereum explodes, cryptocurrency miners are in a race to beat each other to the riches, and graphics processors are the tools they need.


They’re now in such short supply, one miner, Marco Streng, chief executive of Genesis Mining, made this extraordinary admission to Quartz:

"We are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity."


Full story at http://read.bi/2vnG2qh


Source: Business Insider


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