AMD’s Radeon RX 570 and RX 580 graphics cards are in great demand worldwide and can hardly be found in South Africa.
WootwareMatthew Berry said the recent global surge in the value of cryptocurrencies has led miners to buy more AMD Radeon RX series graphics cards, resulting in a decrease in availability.
Miners use graphics cards to mine blockchains and earn cryptocurrencies like Bitcoin, Ethereum, and ZCash.
“The boom in cryptocurrency mining has driven demand for RX 570 and RX 580 GPUs in particular,” said Berry.
The graphics cards are favorites among cryptocurrency miners due to their high hash rate and relatively low price.
AMD’s Radeon RX 400 series cards have been superseded by RX 500 series GPUs, and although there are Radeon RX 560 and RX 550 cards in South Africa, the top-end RX 400 series and RX 500 cards are Series sold out at most retailers.
Less powerful AMD graphics cards like the Radeon RX 550 are not as popular because of their lower hash rates.
Crypto mining has grown into a profitable business, and six Radeon RX 480 graphics cards mining Ethereum every day can earn the owner around R10,000 monthly income at current prices.
Berry said that additional stocks of the AMD cards are constantly arriving in the country, but all of this generally satisfies reorders.
It’s not just South Africa that has a shortage of AMD graphics cards, however, and Berry said the recent boom in cryptocurrency mining has resulted in a global shortage.
Miners around the world are loudly calling for the purchase of RX 580 and RX 570 cards as they can pay for the hardware with three to four months of cryptocurrency mining.
As the value of cryptocurrency increases, more and more users are building crypto miners, and existing miners are expanding or upgrading their hardware due to higher returns.
Cryptocurrencies like Bitcoin and Ethereum saw dramatic increases in value in 2017, which makes buying graphics cards and mining digital currencies more attractive.