Wednesday, March 13th 2024
Qubic Cryptocurrency Mining Craze Causes AMD Ryzen 9 7950X Stocks to Evaporate
It looks like cryptocurrency mining is back in craze, as miners are firing up their old mining hardware from 2022 to cash in. Bitcoin is now north of $72,000, and is dragging up the value of several other cryptocurrencies, one such being Qubic (QBIC). Profitability calculators put 24 hours of Qubic mining on an AMD Ryzen 9 7950X 16-core processor at around $3, after subtracting energy costs involved in running the chip at its default 170 W TDP. "Zen 4" processors such as the 7950X tend to retain much of their performance with slight underclocking, and reducing their power limits; which is bound to hold or increase profitability, while also prolonging the life of the hardware.
And thus, the inevitable has happened—stocks of the AMD Ryzen 9 7950X have disappeared overnight across online retail. With the market presence of the 7950X3D and the Intel Core i9-14900K, the 7950X was typically found between $550-600, which would have added great value considering its low input costs. CPU-based cryptocurrency miners, including the QBIC miner, appear to be taking advantage of the AVX-512 instruction set. AMD "Zen 4" microarchitecture supports AVX-512 through its dual-pumped 256-bit FPU, and the upcoming "Zen 5" microarchitecture is rumored to double AVX-512 performance over "Zen 4." Meanwhile, Intel has deprecated what few client-relevant AVX-512 instructions its Core processors had since 12th Gen "Alder Lake," as it reportedly affected sales of Xeon processors. What about the 7950X3D? It's pricier, but mining doesn't benefit from the 3D V-cache, and the chip doesn't sustain the kind of CPU clocks the 7950X manages to do across all its 16 cores. It's only a matter of time before the 7950X3D disappears, too; followed by 12-core models such as the 65 W 7900, the 170 W 7900X, and the 7900X3D.
Sources:
MEGAsizeGPU (Twitter), Wccftech
And thus, the inevitable has happened—stocks of the AMD Ryzen 9 7950X have disappeared overnight across online retail. With the market presence of the 7950X3D and the Intel Core i9-14900K, the 7950X was typically found between $550-600, which would have added great value considering its low input costs. CPU-based cryptocurrency miners, including the QBIC miner, appear to be taking advantage of the AVX-512 instruction set. AMD "Zen 4" microarchitecture supports AVX-512 through its dual-pumped 256-bit FPU, and the upcoming "Zen 5" microarchitecture is rumored to double AVX-512 performance over "Zen 4." Meanwhile, Intel has deprecated what few client-relevant AVX-512 instructions its Core processors had since 12th Gen "Alder Lake," as it reportedly affected sales of Xeon processors. What about the 7950X3D? It's pricier, but mining doesn't benefit from the 3D V-cache, and the chip doesn't sustain the kind of CPU clocks the 7950X manages to do across all its 16 cores. It's only a matter of time before the 7950X3D disappears, too; followed by 12-core models such as the 65 W 7900, the 170 W 7900X, and the 7900X3D.
61 Comments on Qubic Cryptocurrency Mining Craze Causes AMD Ryzen 9 7950X Stocks to Evaporate
coinmarketcap.com/charts
You know I often have to question the sanity of these morons still insisting on getting into the crypto scam.
I'd wager you'd break even within a month, even sooner if prices go up like the GPU shitshow.
As soon as this boom is over w/, the used 7950x will probably be cheaper than most new AM5 CPUs. :laugh:
Seriously, who doesn't want a 'Ellesmere-Polaris situation' with 16core Zen4s?
For example, even if you were to completely refurbish it by taking the processor core from a mining GPU and installing it on a completely new PCB (Chinese counterfeit 101: look at the sheer volume of people asking for help with counterfeit Polaris cards from Aliexpress on the forum), the hardware is simply going to fail, it's already spent.If it means I have to read threads daily about how their mined counterfeits need a new bios except this time it's that they get BSOD's at stock clocks no thank you
It seems to me that in this case it would be 96 cores for $3499. lol
I just checked, and Qubic is too small, with only a few million in trade volume, to sustain a mining wave at the level of Ethereum, which has billions in volume.