Analysts at Bitpro Consulting said that Ethereum miners spent $15 billion on video cards.
The fact is that gaming graphics cards for mining are quite expensive and can cost up to $ 2,000. And as the value of Ethereum fell, miners began to see a sharp drop in revenue. Many even find it difficult to recoup their investment. The move closer to Ethereum 2.0 will further reduce the commission offered by miners, which will not make cryptocurrency mining very profitable. But mining enthusiasts believe that this will not happen soon.
Still, experts say that the number of active users mining Ethereum has increased by 70%. And after the transition to Ethereum 2.0, seeker’s machines will be able to continue issuing other less popular cryptocurrencies such as Raven, Grin, Dash, Monero, and ZCoin.
Source: Port Altele
John Wilkes is a seasoned journalist and author at Div Bracket. He specializes in covering trending news across a wide range of topics, from politics to entertainment and everything in between.