How much longer will Ethereum be mineable? ANSWERED!
According to a study by trading company Susquehanna, GPU mining has achieved zero ROI since November 2018. The reason was the fall in the rate and the Bitmain ASIC.
A company analyst said that in less than 1.5 years, the average monthly profit of ethereum mining on GPUs fell from $ 150 to zero. The break-even point is due not only to the growth of competition and complexity, but also to the significant superiority of the new Antminers, as well as a 70% drop in the price of the cryptocurrency from the level of December 2017.
Susquehanna says many have previously launched their own mining farms to generate additional income, helped by the low entry threshold. However, since the third quarter of this year, efficiency has dropped significantly, but many continued to engage in mining in order to recoup the equipment and, possibly, make a small profit., «squeezing out all the juices» from the GPU. Since November, the prospectors faced a choice: continue to work at a loss, waiting for the market to grow and accumulate ETH coins, or try to profitably exit mining.
Indicators of profitability of mining ether on GPU.
Even though as the crisis deepens in the crypto market, several large mining companies ceased activities, the clear dominance of ASICs did not make it possible to achieve an increase in profitability. In addition to miners, the manufacturers of video cards also felt negative consequences, and most strongly Nvidia, which did not even include revenues from products for the cryptocurrency market in the sales plan for the third quarter..
Let us remind you that yesterday the collapse of the crypto market began, which led to the establishment of new price lows by bitcoin in 2018.
text: Ivan Malichenko, photo: Susquehanna, Shutterstock