I'm sure you've heard by now that the cryptocurrency market has had the arse fall out of it, with Bitcoin circling $20,000 or so -- leaving crypto miners, small, and big -- shuffling on the spot.
In a new report from Bloomberg, we're being told crypto miners across the world spent around $15 billion in 2021 alone... taking up more GPUs than gamers. Yes, crypto miners purchased more graphics cards than gamers, which should shock some, and not shock others that know crypto miners are buying 10s, 100s, or 1000s of graphics cards at once.
Bloomberg reported: "Ethereum miners have spent approximately $15 billion on graphics processing units (GPUs), according to Bitpro Consulting, and that doesn't include ancillary costs like wiring and transformers".
We've had the worst-ever graphics card shortage in history in the last couple of years, with prices skyrocketing and now dropping back down from their 3x MSRP peaks. Bitcoin has dropped from its highs of $67,000 to around $19,700 at the time of writing, while Ethereum has dropped from $4800 to $1080 at the time of writing. Crypto mining profits, cratered.
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