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Cryptocurrency mining deflates, used GPUs hit eBay

Cryptocurrency mining deflates, used GPUs hit eBay
Ethereum mining continues to deflate, with used GPUs hitting eBay already.
By: Anthony Garreffa | Editorials in Video Cards | Posted: Jul 20, 2017 7:36 pm

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.





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.




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




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.

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