NewsBTC
No Result
View All Result
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning
  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play GamesTry
  • CasinosTry
Bitcoin News
No Result
View All Result
Breaking News: Bitcoin Hits ATH Of $112,000, Expert Predicts Rally Is Just Beginning

Crypto Mining Hardware Industry Falters as Profits Dwindle

Nick Chong
Nick Chong
7 years ago
3 mins read
gpu asrock

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Cryptocurrency mining profits are on the way down, resulting in declining demand for hardware, such as high-end graphics cards. Sources suggest that GPUs could drop by as much as 20% within the upcoming month. 

Mining Hardware Manufacturers Experience Declining Demand

DigiTimes, a premier Asia-based technology news source, has suggested that there has been a large decrease in interest for mining hardware.

Cryptocurrency mining was unarguably one of the largest trends last year, with mining hashrates growing at an exponential rate. Ethereum, one of the most popular mined currencies, had its hashrate grow by over 25 times last year. Additionally, prices for mining hardware rapidly increased, reaching unsustainable prices that were often unaffordable for common consumers and gamers. However, due to waning cryptocurrency prices, coupled with a large increase in mining difficulty, mining growth has ground to a near halt.

Take the example of Ethereum’s hashrate, which shows an eerie correlation between price action and mining interest, in the form of hashrate growth.

Chart Courtesy of EtherScan.io

Many hardware manufacturers, like Nvidia and AMD, overestimated future demand for graphics cards, leading to an overstock in hardware. Nvidia, the most prominent GPU manufacturer, is reported to have a supply of over one million GPUs in its warehouses.

It would be advantageous for Nvidia to clear their overstock of 1000 series cards before announcing the rumored 1100 series. To clear out such large supplies of hardware, Nvidia will be required to implement major price cuts to entice consumers. Even if price cuts are put in place, sources expect Nvidia to delay their next-generation GPUs, which are expected to be a large improvement on the previous series, until late fourth quarter.

It is also expected for cryptocurrency miners to sell their used graphics cards as mining rigs bite the dust, only building the pressure on firms like Nvidia. As a result, DigiTimes has stated that GPU prices could drop by over 20% over July, bringing prices to figures that resemble the original MSRP.

Mining Profits Dip Due To Declining Crypto Prices And New ASICs

Bitmain, the largest ASIC manufacturer, has pushed out new mining machines for the Equihash and EthHash algorithms, which easily outperform GPU miners. ASICs provide an exponentially higher $/hash rate in comparison with graphics cards, making them an attractive option for miners.

GPU miners have begun to shut off their Equihash and EthHash farms as the first round of these new ASICs go online. This coupled with the 70% decline in crypto prices has led to an unsustainable mining environment, where many smaller farms have found it better to keep their machines offline.

Ran Neu Ner, the host of CNBC Africa’s ‘Crypto Trader’ show, has said that miners have already begun to shut off their mining machines. He said:

“So what’s going to happen is when the miners find that it is not viable for them to mine, what they are going to do is to switch off their machines. And there are going to be fewer machines in the ecosystem… We’ve received some notifications from some of the miners that they have already switched off their machines.”

Despite declining profits, mining is still an essential part of the cryptocurrency ecosystem, bringing security and immutability to the multitude of POW-based blockchains.

 

Image from Shutterstock
Tweet123Share196ShareSend
Nick Chong
Nick Chong

Nick Chong

I am a writer who has been following Bitcoin for years now. My insights and interviews have been featured in leading publications in the industry such as LongHash and Decrypt. I own a small amount of Bitcoin.

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Related News

Pump.fun Token Surges in Pre-Market—But Whales Are Shorting It, Why?

Pump.fun Token Surges in Pre-Market—But Whales Are Shorting It, Why?

As the official public sale of Pump.fun’s token approaches, significant activity has emerged across decentralized derivatives exchanges, where large investors...

Samuel Edyme 1 day ago
bitcoin

Bitcoin Uptrend Intact, But Binance Activity Warns Of Short-Term Pullback

Bitcoin (BTC) reached a new all-time high (ATH) yesterday, climbing to $111,999 on Binance exchange before dipping slightly to around...

Ash Tiwari 1 day ago
WLFI

Trump Family’s WLFI Token: Experts Bullish On $5 Price Projection Post-Launch

World Liberty Financial, a decentralized finance (DeFi) platform backed by President Donald Trump and his family, is poised to launch...

Ronaldo Marquez 1 day ago
Load More

Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

Ad discliamer

Morbi pretium leo et nisl aliquam mollis. Quisque arcu lorem, ultricies quis pellentesque nec, ullamcorper eu odio.

Related News

Bitcoin Breaks Records: What Miners and Leverage Traders Are Doing Behind the Scenes

Bitcoin Breaks Records: What Miners and Leverage Traders Are Doing Behind the Scenes

Samuel Edyme 11 hours ago

No Mania Yet: Bitcoin ATH Lacks Hype, Suggesting Further Upside Potential

Ash Tiwari 12 hours ago
XRP

Don’t Hold Back—Expert Recommends Full Stake In XRP

Christian Encila 15 hours ago

Premium Sponsors

Press Releases

  • [Lightning Launch] CoinBase Miner Earns $9141 a Day...

    2 hours ago
  • 4 kryptomeny, vďaka ktorým toto leto zmeníš 1000 € na...

    18 hours ago
  • 3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    3 altcoiny do obserwacji w drugim tygodniu lipca 2025 roku

    18 hours ago
  • 4 kryptowaluty, dzięki którym tego lata zamienisz 1000 zł w miliony

    4 kryptowaluty, dzięki którym tego lata zamienisz 1000...

    18 hours ago
  • 4 criptomonede cu care poți transforma 1000 de lei în milioane vara aceasta

    4 criptomonede cu care poți transforma 1000 de lei în...

    22 hours ago

Newsletter

Be the first to get the latest important crypto news & events to your inbox.

  • This field is for validation purposes and should be left unchanged.

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

Company

  • About Us
  • Advertising
  • Contact Us
  • Privacy Center

Social

© 2025 NewsBTC. All Rights Reserved.

  • Cryptocurrency News
    • Bitcoin News (BTC)
    • Ethereum News (ETH)
    • Ripple News (XRP)
    • Shiba Inu News (SHIB)
    • Cardano News (ADA)
    • Dogecoin News (DOGE)
    • Solana News (SOL)
    • Litecoin News (LTC)
    • Avalanche News (AVAX)
    • Polygon News (MATIC)
  • Crypto Prices
    • Binance Coin (BNB) Price
    • Bitcoin (BTC) Price
    • Cardano (ADA) Price
    • Chainlink (LINK) Price
    • Dogecoin (DOGE) Price
    • Ethereum (ETH) Price
    • Litecoin (LTC) Price
    • Polkadot (DOT) Price
  • Crypto Resources & Directory
  • All Crypto
  • Play Games
  • Casinos
Advertise

© 2025 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.