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Crypto mining has been resurrected and it’s causing a surge in demand for AMD CPUs

Last Updated on March 14, 2024
An AMD Ryzen 7 1700X CPU with dollar signs, possibly indicating its cost or value in crypto mining.
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The mining craze is back thanks to the rise of Bitcoin again. This rise in mining has brought a demand that was previously seen from 2020 to 2022, where GPU demand soared thanks to crypto mining. Now, the problem appears to be repeating itself, only this time with CPUs.

AMD Ryzen 7000 series CPUs are seeing a huge surge in demand thanks to crypto mining making a return, as reported by Wccftech. The AMD Ryzen 9 7950X has recently become an incredibly popular CPU for mining, and right now it’s currently sold out on Newegg. It’s being sold for $741, which is $42 more than its launch price. This CPU was released over a year ago, but the price has climbed. Crypto mining appears to be the reason why these older processors are suddenly rising in both price and demand.

AMD CPUs are suddenly in high demand as crypto mining makes a comeback

The AMD Ryzen 9 7950X is able to generate tons of profit when mining for currency like Qubic coins, PYI, and NEX. Qubic coins alone can generate up to $3 per day. Because of the high performance it provides while still keeping energy costs low, it’s become a favorite for miners. Where there is a profit to be made, crypto miners will flock to the product.

GPUs for the longest time were the favorite of crypto miners. But, thanks to the RandomX algorithm becoming popular, CPUs are beginning to take that spot. The XMRig benchmarks list is now being topped by AMD chips with a high core count. With the money able to be made by mining crypto on these CPUs, AMD chips are suddenly incredibly popular. This is evidenced by flagship models like Intel Core not seeing the same surge.

This trend is only expected to continue, so it could mean that it will be harder to your hands on AMD chips for a good period of time. The AMD Zen 5 is on its way, but it could become difficult to get if it’s as popular as the AMD Zen 4 is for miners. All of this could spell trouble for gamers. If you’re looking for good AMD chips, miners might snag all the available CPUs before you can.

Annie is a journalist focusing on the latest technology news and deals. At PC Guide, Annie covers the latest bundle deals and news from the world of tech, with a particular focus on GPU and CPU news.