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Cryptocurrency mining deflates, used GPUs hit eBay (Page 1)

Cryptocurrency mining deflates, used GPUs hit eBay

Ethereum mining continues to deflate, with used GPUs hitting eBay already.

Anthony Garreffa | Jul 20, 2017 at 2:36 pm CDT - 1 min, 41 secs time to read this page

Cryptocurrency Prices Drop Heavily

This is something we've been covering quite a bit here on TweakTown, cryptocurrency prices and especially the hot coins like Ethereum, Bitcoin, Zcash, and others. All digital currency has taken a big hit, but Ethereum is the one that has shaken the market the most.

It went viral in June, plateaued towards the end of the month, and dived right off a cliff in early July. The price came crashing down, while the difficulty of mining Ethereum didn't just go through the roof - it went into the stratosphere. It made small miners (single GPU miners, and even those with 10-20 cards) completely bottom out - forcing some to sell their rigs.

I said this would happen in my first article, but now we're here - Ethereum is at $180 right now, down from its heights of nearly $400 last month. This isn't good, and neither is the sharp increase in the DAG, pushing those with less than 30-40 cards out of the Ethereum mining game. Heck, I have 58 graphics cards running right now, and I'm struggling... big time.

Ethereum Price Recovers... Slightly

The price of Ethereum did reach the lows of $140 on July 17, resulting in more gray hair for me and I'm sure many other ETH holders and ETH miners across the world. It has since recovered, driving up to $180... but it's not stable at all. Volatile is a nice way of putting it.

Cryptocurrency mining deflates, used GPUs hit eBay 01 | TweakTown.com

Difficulty Begins Another Spike

The difficulty of mining Ethereum continues to increase, as we reached 1.2T last week - and dropped under 1.2T just over the last 24 hours. This is scaling back up and will reach 1.2T, and probably 1.4T or so in the next week.

Cryptocurrency mining deflates, used GPUs hit eBay 02 | TweakTown.com

You can see here that the last week hasn't been good at all.

Cryptocurrency mining deflates, used GPUs hit eBay 03 | TweakTown.com

The last seven days of ETH mining difficulty... reaching the lows of 1.15T, and scaling back up past 1.2T is on the way.

Last updated: Sep 25, 2019 at 12:22 am CDT

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Anthony Garreffa

ABOUT THE AUTHOR - Anthony Garreffa

Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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