Cryptocurrency mining profits have plummeted since last year

Cryptocurrency mining profits have plummeted since last year

6 years ago
Anonymous $cyhBy-qkd5

https://www.pcgamer.com/cryptocurrency-mining-profits-have-plummeted-since-last-year/

We don't really know precisely what impact cryptocurrency mining had on the shortage of graphics cards over the past year, versus memory makers shifting a large chunk of production from DRAM ICs to NAND flash memory chips. What we do know is that cryptocurrency contributed to the bottom line for both AMD and Nvidia. Can we expect another shortage at some point? That remains to be seen, but at least at this very moment, profits from mining are way down from a year ago, or even a few months ago.

In my daily travels on the web, I stumbled upon an article by Nathan Kirsch at Legit Reviews that compares the profits of mining Ethereum today versus a year ago. On June 14, 2017, Kirsch published an article on how to tweak a GeForce GTX 1070 graphics card to mine Ethereum more efficiently. Even then, the mining difficulty of Ethereum had seen a sharp rise, but a properly tuned GeForce GTX 1070 could still rake in a profit of around $6 per day, or $185 and change per month. That was the money left over after paying for electricity.