According to the Susquehanna American company working in the fields of trading and investment, Ethereum mining with GPUs is no longer profitable. This writes Cointelegraph.
The analysis clarifies that the monthly income ETH-miners are using GPU’s, on 1 November this year reached $ 0, though in July 2017 it was almost $ 150. The main factor reducing profitability, according to analysts of Susquehanna, is the depreciation of Ethereum – at the time of writing it is 204 dollars, which is almost 85% below the peak 1 $ 350 in mid-January, 2018. It is noteworthy that on July 17, 2017, when the profit for GPU miners broadcast was $ 147, and the hash rate was substantially below today’s values, this crypto-asset trading at 175 dollars.
Susquehanna analyst in the field of semiconductors Christopher Rolland in a conversation with CNBC has confirmed that using the flagship GPU of NVIDIA ETH-mining “no longer profitable”. He also noted that the quarterly revenue NVIDIA from crypto business fell by approximately $ 100 million. In addition, in his opinion, the NVIDIA report for the 3rd quarter, which will be published this week, shows that the company’s income from crypto-business “close to zero”
“According to our estimates, this quarter revenue from sales of NVIDIA GPU miners will be very low, which corresponds to a recent review of the company’s management that they do not expect profits from crypto-businesses in the 3rd quarter of 2018,” said Rolland.
In addition, recently, analysts from the firm Trefis has predicted that the total revenue to NVIDIA in Q3 will grow, but as Susquehanna, I believe that the sale of the company related to cryptocurrencies will continue to fall.
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