Advanced Micro Devices (AMD) and ConsenSys have unveiled a new joint venture focused on the creation of a network of data centers focused on Ethereum infrastructure.
On Thursday, the venture was unveiled alongside news of the initial close of $20.5 million in convertible notes from AMD, ConsenSys and “several family offices in the United Arab Emirates.”
AMD is one of the world’s largest suppliers of graphics cards (GPUs), holding a reported 31 percent market share in Q4 of 2019, according to data published in late February.
The news represents AMD’s most significant move to date in the crypto and blockchain ecosystem. Its products have long been used by miners on Ethereum and other cryptocurrency networks, and AMD hosts a dedicated Web portal for mining rigs that use its hardware. AMD is also a member of the Blockchain Gaming Alliance, an organization focused on blockchain applications for gaming.
In a statement, W3BCLOUD said that “[w]ith this first round of funding, W3BCLOUD will ramp and operate its first Ethereum blockchain data centers. W3BCLOUD will expand its network of decentralized data centers across the globe as more funding is raised.”
“Bolstering the compute power of blockchain networks with AMD’s leading-edge technology will be of great benefit to the scalable adoption of emerging decentralized systems around the globe,” Joe Lubin, founder of ConsenSys and a co-founder of W3BCLOUD, said in a statement. “The combination of hardware and software will power a new infrastructure layer and enable an accelerated proliferation of blockchain technologies.”
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