Just a day after Ethereum’s transition from Proof of Work (PoW) to Proof of Stake (PoS) , GPU mining profitability has plummeted and continues to fall further. The hopes of miners for alternative “coins” were buried by their falling capitalization and the high difficulty of mining new blocks.
As of September 16, only the GeForce RTX 3090, AMD Radeon RX 6800 XT, RX 6800 and Radeon RX 6600 showed a profit of $0.01-0.06 per day at a price of $0.10 per kWh on alternative cryptocurrencies. To date, day, none of these video cards show a positive result.
The collapse affected both small and large miners. There is no longer any point in renting premises, hiring staff and generally making any investments in this area. Of course, the cryptocurrency market is unpredictable and they can grow again – but it is precisely the unpredictability that is an obstacle to investing in mining. The best thing miners can do right now is to sell off their existing hardware.
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Jared Walton of Tom’s Hardware expects the market to be flooded with used graphics cards soon. The browser also expects a further collapse in prices for them and does not recommend gamers to buy any video card over $500 right now. You should also be careful when buying a graphics adapter from your hands – it is better to use proven marketplaces for this, which support the return of goods to third-party sellers.
NVIDIA may further cut prices on top graphics cards ahead of RTX 4000 series release
