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Crypto miners have begun leasing Boeing 747s to fly GPUs from AMD and NVIDIA directly to their Ethereum mines so they can be plugged in as quickly as possible. Apparently, some of earliest, largest miners have special connections allowing them to go beyond the traditional method of shipping by sea, which is a terrible idea when time is of the essence. This report also reveals that AMD’s stock is up significantly due to cryptocurrency miners snapping up the firm’s graphics cards.
“Time is critical, very critical,” in mining, Marco Streng, chief executive of Genesis Mining, a major Ethereum miner, told Quartz. “For example, we are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity.” “When building our data centers, we have the highest priority on time,” Streng said. “Time counts so much. We are using the fastest delivery possible. You risk the opportunity to mine for the days you are delayed. If you are deploying 10 days later, you are losing 10 days of mining—that is the cost.”
“Time is critical, very critical,” in mining, Marco Streng, chief executive of Genesis Mining, a major Ethereum miner, told Quartz. “For example, we are renting entire airplanes, Boeing 747s, to ship on time. Anything else, like shipping by sea, loses so much opportunity.” “When building our data centers, we have the highest priority on time,” Streng said. “Time counts so much. We are using the fastest delivery possible. You risk the opportunity to mine for the days you are delayed. If you are deploying 10 days later, you are losing 10 days of mining—that is the cost.”