Ethereum GPU Hash Rate Drops

Ethereum Hash Rate Drops

We’ve been having a lot of news about Cryptocurrency lately. This is partly due to the effect it has on anyone who has a spare warehouse full of GPUs, but also how that sudden drop in demand is effecting pricing for those of us in the market for a new card.

If you’ve been unaware, China have recently had a major crackdown on the resource usage of some cryptocurrency mines in areas with the cheapest electricity. This has led to many shutdowns of enormous farms which has had a rather obvious knock on effect on the amount of this currency being mined at all.

Etherscan is a website which tracks the current hash rate of that particular coin, and in the last month has seen an enormous fall in the overall hash rate, perhaps indicating that Ethereum is no longer as profitable as it once was.

If you’re of the opinion that cryptocurrency mining is only a similar idea to the old days of [email protected] or [email protected], with a couple of people in their bedroom on a computer or two whirring away, then the above graph should give you a clear indication of the scale of cryptocurrency mining. Remember this is just a few farms in China that have been closed, and there is about a 140000 GH/s drop in efficiency.

Sad that this is going to be a hit in your pocket, or pleased that this cynical burning of the Earth’s resources in the quest for more profit is finally being reined in? Let us know ion the OC3D Forums.