The original story was published on the official StormGain site blog Find all the answers and StormGain community here Register in StormGain today and get a 25 USDT bonus here If ETH doesn’t reach its all-time high again by that time, miners’ demand for them will substantially decrease. Mining difficulty will grow as long as institutional demand is met, and the GPU mining ROI period will soon surpass one year. Gamers’ last hope hangs on the development of ASICs that could push GPUs out of mining. The most frequently asked question among some in the crypto community is ‘when will GPUs get cheaper?’ The risk of proof-of-work being abandoned does not dampen companies’ ardour in their pursuit of hashing power. iPollo has already received pre-orders worth $200 million. Bitmain, Innosilicon and iPollo have already announced the availability of Ethereum ASICs by the end of this year. So, they don’t want to miss out on the profit they could make on the second-largest cryptocurrency.ĪSIC manufacturers are backing miners in their arms race. Miners expect that The Merger implementation period will shift: this regularly happens in Vitalik Buterin’s network. Hut 8 is close behind, having bought $30 million worth of hardware from NVIDIA, which will give it 1.6 Gh/s more hash power this month. In October 2020, Hive Blockchain became the biggest public Ethereum miner at 3.4 Gh/s it plans to ramp up its hashing power to 5.5 Gh/s by the end of 2021.
This circumstance has caused mining companies to increase their hash power despite the PoS risks. According to the CEO of Luxor mining centre, Ethan Vera, the ROI period on Ethereum mining hardware is four months, but over a year for Bitcoin. The availability of efficient machines attracted institutional investors, for whom the payback period is less in the Ethereum network than in the Bitcoin network. For instance, in early 2021, NVIDIA presented its first chip for ETH mining, which can hash 26 Mh/s at 125 W. However, in recent years, a breakthrough was made in producing ASICs for the ETHash algorithm. Over 90% of Ethereum mining is done with GPUs.
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