ETH mining power by video cards fell by 19% in a month

ETH mining power by video cards fell by 19% in a month

The total hashrate of the ETH cryptocurrency network has dropped 19% during this month. This means that a significant number of video cards are not currently mining cryptocurrency. They may have switched to other currencies or sold them.

ETH mining power by video cards fell by 19% in a month (2)

There are two reasons for this:

  1. The fall in the price of ETH, and hence the efficiency of mining. Miners decided to get rid of equipment due to price correction
  2. Banning some provinces of China for mining. Miners are now selling or transporting their assets

ETH and some other cryptocurrencies are mined using video cards, when bitcoin and some altcoins are mined using Asic, special mining equipment.

In the short term, this is very good news for gamers – thus, prices for video cards could seriously fall. From a peak of 643.81 TH / s, the hash rate fell to 499.55 TH / s. Nevertheless, this is only the level of April of the same year, so you should not expect a serious sale of video cards from miners.

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