• About
  • Contact Us
Wednesday, August 10, 2022
Cryptos Newz
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
Cryptos Newz
  • Home
  • News

    Breaking: Boeing Is Said Close To Issuing 737 Max Warning After Crash

    BREAKING: 189 people on downed Lion Air flight, ministry says

    Crashed Lion Air Jet Had Faulty Speed Readings on Last 4 Flights

    Police Officers From The K9 Unit During A Operation To Find Victims

    People Tiring of Demonstration, Except Protesters in Jakarta

    Limited underwater visibility hampers search for flight JT610

    Trending Tags

    • Commentary
    • Featured
    • Event
    • Editorial
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us
No Result
View All Result
Cryptos Newz
No Result
View All Result
Home Bitcoin News

The Crypto Crash is Sinking GPU Prices as Mining Profitability Plummets – Decrypt

Crptoz by Crptoz
June 21, 2022
in Bitcoin News
0
189
SHARES
1.5k
VIEWS
Share on FacebookShare on Twitter

Gamers rejoice! While crypto investors are looking for an ongoing downturn from the bottom up, graphics card costs have come down steadily amid the ongoing crypto market crash.

“GPU prices fell 15% in May, and we’ve seen a similar 10-15% drop every month for the past several months,” said PC News and Reviews website Tom’s Hardware Reported on Wednesday. “We saw the best graphics cards back in stock (at retail) as GPU mining profitability fell – and this was before bitcoin and ethereum crashed again.”

READ ALSO

Iran Places First Official Import Order With Cryptocurrency Worth $10 Million – Regulation Bitcoin News

Crypto Newbie? Here’s How to Start Investing in Cryptocurrencies – BeInCrypto

A graphics processing unit (GPU) is a specialized computer chip designed to accelerate graphics rendering. GPUs can process multiple data streams at once, rendering images and videos faster, making them useful for gaming. Due to their special processing power, GPUs are also a sought-after resource for crypto. digging,

GPUs can often consume more energy than the central processing unit (CPU) of the computers in which they are installed.

According to the report, an RTX 3080 GPU that once sold for $1,000 is now selling for $650 on eBay, and miners who want to start mining cryptocurrencies such as Ethereum Today you may have to wait two years to put a stop to your investments.

Compare this to October 2020, when Nvidia GeForce RTX 3080 Ti graphics cards were out of stock everywhere and selling for $1,227 on eBay.

The website, which tracks GPU prices from month to month, also provides another factor in the reduction in the price of older model GPUs: new models launching soon, pushing the current generation of GPUs into the secondary market. Will push

Although bitcoin miners primarily use specialized ASIC hardware, other proof-of-work Blockchain, including Ethereum dogecoin, zcashAnd moneroMining can be done using GPU card.

According to bloombergIn 2021, Ethereum miners alone spent over $15 billion on graphics cards.

In an effort to make its graphics cards less desirable for crypto miners, Nvidia announced in February 2021 the launch of a processor designed specifically for mining cryptocurrency, the Nvidia CMP. The company announced that it would be bidding to limit its GPUs to “less desirable” miners.

Neither gambling appeared to pay off; Miners found a workaround to continue using their preferred GPU, while revenue from Nvidia’s CMP cards fell to negligible levels in 2022.

When Ethereum transitions to a proof-of-stake With this year’s planned merge of algorithms, many in the Ethereum community expect this new era for Ethereum to be much more eco-friendly—and further reduce demand for graphics cards.

Once the conversion takes place, Ethereum miners will have to find other blockchains to mine in order to profit.

Want to become a crypto expert? Get the best of Decrypt straight to your inbox.

Receive the biggest crypto news + weekly roundups and more!


Related Posts

Bitcoin News

Iran Places First Official Import Order With Cryptocurrency Worth $10 Million – Regulation Bitcoin News

August 10, 2022
Bitcoin News

Crypto Newbie? Here’s How to Start Investing in Cryptocurrencies – BeInCrypto

August 10, 2022
Bitcoin News

Tales From Europe: Eurozone Crisis Shows The Argument For Bitcoin

August 10, 2022
Bitcoin News

Coinbase Betting Big On Staking Ahead of Ethereum Merge – Decrypt

August 10, 2022
Bitcoin News

Cleanspark Acquires Plug-in-Ready Bitcoin Mining Facility With up to 86 MW of Capacity – Mining Bitcoin News

August 9, 2022
Bitcoin News

The Stablecoin Monster: CBDCs Are A Red Herring

August 9, 2022
Next Post

Coin Bureau Speculates Worst-Case Scenario For Binance Coin (BNB) Amidst SEC Inquiry

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

POPULAR NEWS

Man Who Broke into Terra Founder’s House Was Crypto Investor Who Lost 3 Billion Won

May 16, 2022

Dock Launches Ambassador Program – Press release Bitcoin News

January 17, 2022

When SHIB? Robinhood CBO States They Seek Compliant Ways to Increase Crypto Offering

February 9, 2022

Why You Should Stack Sats To Celebrate Father’s Day

June 19, 2022

Ted Cruz: Texas Should Be “Ground Zero” for Crypto Industry

March 3, 2022

EDITOR'S PICK

Dogecoin Price Could Plunge To $0.11 Owing To A Consistent Downslide

May 5, 2022

Cardano Price Analysis: ADA Deletes December’s Progress, Crashes to $1.2

January 6, 2022

Crypto Price Analysis April-28: Ethereum, Ripple, Cardano, Solana, and Shiba Inu

April 28, 2022

RBI Deputy Governor Calls Satoshi Nakamoto ‘Fictional Person,’ Proposes Bitcoin Ban – BeInCrypto

February 17, 2022

About

We bring you the best Premium WordPress Themes that perfect for news, magazine, personal blog, etc. Check our landing page for details.

Follow us

Categories

  • Altcoin News
  • Bitcoin News
  • Blockchain News
  • Business
  • Cryptocurrency News
  • Ethereum News
  • How To Buy Crypto
  • News
  • Uncategorized

Recent Posts

  • Iran Places First Official Import Order With Cryptocurrency Worth $10 Million – Regulation Bitcoin News
  • Crypto Newbie? Here’s How to Start Investing in Cryptocurrencies – BeInCrypto
  • Chainlink Price Above $8, Can It Go Past Its Immediate Resistance?
  • Tales From Europe: Eurozone Crisis Shows The Argument For Bitcoin
  • Home
  • News
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.

No Result
View All Result
  • Home
  • News
    • Altcoin News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Business
  • Write For Us
  • Press Release
  • Web Stories
  • Legal Information
    • Affiliate Disclosure
    • DMCA Compliance
    • Privacy Policy
    • Contact Us

© 2022 CryptosNewz - Premium Cryptocurrency News Blog CryptosNewz.