$15 billion spent on GPUs by crypto miners, not gamers, in 2021

Bloomberg reports that crypto miners spent $15 billion in GPUs in 2021 alone, gamers come in second place after crypto miners.

Published Jun 19, 2022 8:51 PM CDT   |   Updated Wed, Jul 13 2022 12:11 PM CDT
0 minutes & 46 seconds read time

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.

$15 billion spent on GPUs by crypto miners, not gamers, in 2021 507

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".

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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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NEWS SOURCE:bloomberg.com

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. 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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