Bitcoin Has Crashed – But Will GPU Shortage Finally Ease Up?

Bitcoin Has Crashed – But Will GPU Shortage Finally Ease Up?

2 years ago
Anonymous $dEyjbtEkMr

https://wccftech.com/bitcoin-has-crashed-but-will-gpu-shortage-finally-ease-up/

As the Russian Federation deliberates to ban cryptocurrency mining, the world's leading and most popular cryptocurrency Bitcoin is now close to touching five-month lows, mirroring last year's levels after billionaire Elon Musk decided to revise Tesla Inc's decision to accept the cryptocurrency as a form of payment, as he cited adverse environmental impacts from the energy used in mining. The Russian central bank's consideration of banning the cryptocurrency, paired with the wider sell-off that markets are facing today seems to have taken a toll on Bitcoin, which is now trading below the $40,000 mark.

Mining the currency requires graphics processing units (GPUs), which are also used in running video games, and the new Bitcoin price levels, if sustained, carry the possibility of mines deciding to resell their equipment. This, in turn, could ease up the significant supply shortages that consumers are facing right now.