The Use Of ETH For GPU Mining No Longer Profitable

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Bitcoin News

The Use Of ETH For GPU Mining No Longer Profitable

According to the analysis of the American company Susquehanna, working in the fields of trading and investment, mining Ethereum using the GPU no longer brings profit.

The analysis clarifies that the monthly income of ETH-miners using the GPU reached $ 0 on November 1 this year, although in July 2017 it was almost $ 150. The main factor in the decline in profitability, according to analysts of Susquehanna, is the fall of Ethereum. It is noteworthy that on July 17, 2017, when the profit of GPU-miners of ether was 147 dollars, and the hash rate was significantly lower than today’s values, this crypto-asset was trading at 175 dollars.

Susquehanna’s semiconductor analyst Christopher Rolland confirmed in a conversation with CNBC that the use of NVIDIA’s flagship GPUs for ETH mining “is no longer profitable.” He also noted that NVIDIA’s quarterly income from the crypto business fell by about $ 100 million. In addition, in his opinion, the NVIDIA report for the 3rd quarter, which will be published this week, will show that the company’s income from the crypto-business “is close to zero”.

“According to our estimates, NVIDIA’s revenue from GPU sales to miners will be very low this quarter, which corresponds to the recent comments of the company’s management that they do not expect profits from crypto-business in the 3rd quarter of 2018,” Rolland said.

In addition, recently analysts from the firm Trefis predicted that the total income of NVIDIA in the 3rd quarter will grow, but, like Susquehanna, believe that sales of the company associated with cryptocurrencies will continue to fall.

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