Popular Crypto Mining GPU Price Down 67% Considering February - BITCOIN NET MAGZ

Popular Crypto Mining GPU Price Down 67% Considering February

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AMD's Favorite Radeon RX580 graphics processing unit (GPU), That has been

This means that The GPU, which reached a peak average cost around $550 at February 2018, has observed a 67 percent price drop throughout the year, dubbed"Crypto Winter" by a few crypto entrepreneurs.

As Cointelegraph Previously reported, the year-long bear market has had a significant effect on the crypto mining business, with dramatic drops in revenue, forcing many miners to give up the industry and sell their gear. Many miners have begun selling mining apparatus by the kilogram in an effort to recover losses as their rigs reach"shutdown rates."

Consequently, the "Crypto Winter" has also influenced GPU manufacturers like NVIDIA and AMD. Reduced interest in crypto mining caused a sharp drop-off in GPU sales to miners with AMD reporting that their crypto-related earnings in Q3 2018 were"minimal"

AMD CEO Lisa Su said,"[Blockchain tech is] a very important technology [...] The notion you are able to do all these peer-to-peer trades, a decentralized system, it's a good technology, but frankly, l think it is a tiny diversion in the short term." Regarding the Effect of blockchain software on the firm's business Su said:

"We believe blockchain or exploration was About approximately 10% of our revenue during the [first] quarter. And the truth is that there are lots different things in these estimates. We believe we have a very good idea of what people are using our products for. It's a nice growth factor, but it's certainly not the dominant growth factor in our narrative."

In mid-November, Nvidia's share cost dropped after Q3 financial results demonstrated a"crypto hangover" in the company's GPU earnings. From the report, NVIDIA founder and CEO Jensen Huang said that the organization's"near-term results reveal excess channel inventory post the cryptocurrency boom, which will be corrected."

To Put It Differently, the Crypto mining frenzy drove up prices for Nvidia's GPUs, however, once that need Disappeared, prices did not diminish quickly enough to draw clients who We're awaiting more affordable cards.

 

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