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Anyone buying hardware to mine Ethereum is going to lose (Page 1)

Anyone buying hardware to mine Ethereum is going to lose

Know anyone who just spent thousands on hardware for Ethereum mining? Well...

By Anthony Garreffa from Jul 8, 2017 @ 13:35 CDT

Put Your Hard Hat On

There's a huge cryptocurrency mining boom taking place right now, with global GPU shortages for both AMD and NVIDIA, as well as a general shortage on high-end PSUs that drive over 1000W.

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This all began to spiral out of control starting in late May, and into the first week of June when Ethereum really exploded onto the scene. It was being mined the hell out of behind the scenes, but it was in the middle of June when it felt like it was absolutely everywhere.

GPU shortages across the world, with both reactional effects to AMD and NVIDIA as well as eBay sellers, retailers, wholesalers, and even the second-hand market. Older graphics cards from AMD began doubling or tripling in price in the second-hand market, with the Radeon R9 295X2 selling for nearly $1000.

This drove people to buy Radeon R9 290/390 series cards, on top of people stripping shelves bare of the Polaris-based Radeon RX 470, RX 480, RX 570, and RX 580. Both variants were depleted with 4GB and 8GB models selling out, and then NVIDIA felt the effects with GTX 1060s becoming super popular overnight, selling out just as quickly as retailers began cashing in on the Ethereum mining boom.

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