Eh, you win some, you lose some! The price of the second biggest cryptocurrency has plunged, sending the profitability of Ethereum mining sharply down.
The value of Ether, the actual currency of the Ethereum blockchain, is climbing back up to levels touching $1,600 at the time of this writing. It is notably down from its recent peak of $2,000 that it achieved in February.
Ether is, of course, the crypto most favored by GPU miners, as it is one of the few that still works best on graphic cards. Unlike Bitcoin, which is best mined on specialized ASIC hardware.
The lowdown is that a significant reduction in value of Ethereum has had a larger impact on the profitability of the coin. More so than its value, in fact. An increase in difficulty, alongside an artificial limit on hash generation tied to the current hash rate of active miners is also playing a part.
End result being that the profitability of mining ether on your computer has halved between the timeframe of February 23 and March 3.
It is slightly on the rise, though.
And even with all the shaving, there is still money to be made.
This being one of the reasons behind the shortage of the latest graphics cards from the market. It is this very situation that has forced NVIDIA to launch new specialized GPUs that are specially designed for Ethereum mining.
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