Bad for miners, good for gamers.
Ethereum, one of the most popular cryptocurrencies, is becoming more difficult to mine. At the same time, volatility is rearing its welcome head, and the value of Ethereum is now less than half of what it wasgoed around a month ago. Spil a result, profitability is way down, and some miners are putting their GPUs up for sale on second-hand sites such spil Ebay, CoinDesk reports.
While it is difficult to predict anything when it comes to cryptocurrencies, wij are cautiously optimistic that GPU pricing should begin trending back to normal ter the coming weeks. That could switch at the druppel of the hat, of course, but with the way things are now, miners are less motivated to stock up on GPUs and mine Ethereum.
That wasgoed not the case a month ago when Ethereum reached an all-time high of $300 before recording another high of more than $400 a brief while zometeen. More and more miners leaped on the crytpocurrency bandwagon te hopes of making some reserve dough, and maybe even eventually striking it rich, spil some early adopters of Bitcoin did. But since then, Ethereum has fallen ter value, declining to a low of $133 overheen the weekend. It’s presently trading at around $170-$180.
It has also become more difficult to mine overheen the past month. Have a look at the steep trend line from the beginning of June until now:
From our vantage point, the difficulty ter mining has caused about a Ten procent druppel ter profitability, while the falling price has made Ethereum mining 50 procent (or more) less profitable. Power costs remain onveranderlijk, so where an RX 580 might have grossed up to $Five vanaf day next last month, it will now only gross around $1.70. That means instead of a netwerk profit of $Four, it’s now down to a netwerk build up only $1.25 (at a power cost of $0.Ten vanaf kWh). Generally speaking, it looks like a typical miner might have to wait six months or more to pay for a GPU hardware investment, compared to two or three months.
This is a good thing for gamers. While crytpocurrencies like Bitcoin (SHA256) are far more lightly mined on ASIC hardware, othere’s like Ethereum (Dagger-Hashimoto) and ZCash (Equihash) use algorithms that are resistant to ASIC hardware. Combined with Ethereum’s spiking value, miners went running for the hills with spil many GPUs spil they could carry ter what became a modern day gold rush.
This resulted ter a shortage of many desirable graphics cards from both AMD and Nvidia. The best bang-for-buck options for gaming are also excellent options for mining, but there just aren’t enough parts to meet the request of both markets. Cards like the Radeon RX 570 have bot out of stock or grossly overpriced by third-party vendors, such spil this Gigabyte Aorus Radeon RX 570 going for $550. And that’s not even the most expensive RX 570 SKU out there. PowerColor’s Crimson Demon variant is listed on Newegg (through a third-party) for $639.
It’s a crazy situation, but here’s hoping that latest events restore some sanity to the graphics card market. There’s an RX 580 8GB presently ter stock at Newegg for ‘only’ $310, which is still way overheen MSRP, but the coming weeks should see inventories and prices embark to come back to normal. If you’d rather not wait for inventory levels to even out, you can also check second-hand sites for deals.