Ethereum miners have spent $15 billion on graphics cards in the past 18 months
- CVE-2007-4559 Python vulnerability ignored for 15 years puts 350,000 projects at risk of code execution
- RISC-V only takes 12 years to achieve the milestone of 10 billion cores
- 14000 cores + 450W: RTX 4080 graphics card perfectly replaces the RTX 3080
- Big upgrade: The difference between Bluetooth 5.0 and 5.2
- Geeks Disappointed that RTX 4080/4090 doesn’t come with PCIe 5.0
- What are advantages and disadvantages of different load balancing?
Ethereum miners have spent $15 billion on graphics cards in the past 18 months.
Ethereum miners alone have reportedly spent around $15 billion on graphics cards over the past 18 months.
That figure doesn’t include the GPUs gamers use for gaming and mining, and they’re also trying to recoup some of the cost of their high-priced graphics cards.
The reported figures also do not include the cost of CPUs, motherboards, PSUs and other components required for mining rigs.
The data comes from Bitpro Consulting, a company that specializes in buying and refurbishing cryptocurrency mining hardware.
At the end of 2020, the prices of many cryptocurrencies rose sharply, causing millions of people to flock to retail and online stores to buy graphics cards to mine Ethereum in order to make a quick buck.
At the same time, AMD and NVIDIA have launched their new generation of GPUs, which feature huge performance improvements over their predecessors, leaving many gamers wanting to upgrade.
The story that followed is familiar: demand far outstripped supply, sending prices skyrocketing, and the rampant hardware scalpers compounded the problem.
The average premium attached to graphics cards jumped from just over $400 in 2019 to nearly $800 last year, according to Jon Peddie Research.
Early entrants into the mining industry reap huge profits from their investments.
However, the value of ethereum has fallen by more than 80% since its peak last year, making it difficult for many to recover the cost.
Bloomberg reports that a man has made only $5,000 worth of cryptocurrency so far from his $30,000 investment in hardware.
GPU miners will no longer be able to mine cryptocurrencies in this environmentally unfriendly way after ethereum switches to a proof-of-stake model, a move developers claim will happen in August, although it could be delayed again.
- DIY a PBX (Phone System) on Raspberry Pi
- How to host multiple websites on Raspberry Pi 3/4?
- A Free Intercom/Paging system with Raspberry pi and old Android phones
- DIY project: How to use Raspberry Pi to build DNS server?
- Raspberry Pi project : How to use Raspberry Pi to build git server?