GPU Mining Revenues Started Decreasing After Ethereum’s (ETH) Merge Update!

bitcoin miner Hive BlockchainETH’s profitability from GPU mining Merge He said it went down after the update.

GPU Mining Revenues Drop in September After ETH’s Merge Update

The company said in a statement yesterday that “historically, Hive’s Ethereum “GPU mining generated 3x to 4x more revenue per MW (megawatt) of capacity compared to Bitcoin mining,” he said.

The company said that after Merge, hashrate flowed from Ethereum to other coins, while revenues from GPU mining fell from $120,000-150,000 per day to $20,000-30,000.

Hive also said that the same energy capacity transferred to Bitcoin-mining ASICs could generate around $41,000 at current difficulty levels.

Still, GPU mining makes up a relatively small part of Hive’s business (using 25 of the company’s total 130 megawatts of power capacity), with the rest being Bitcoin mining.

at the end of August 5.100 ETHAs of September 30, Hive, which owns 3,350 BTC and 356 ETHHe had a balance of .

The company’s GPU hashrate is shifting to other minable coins instead of holding those coins. bitcoin set payments. After Merge like this 15.8 BTC has produced more.

Hive’s total BTC equivalent from GPU mining fell from 228.4 BTC from Ethereum mining in August to 111.7 BTC from Ethereum in September. It fell to 15.8 BTC from other coins, down 44% compared to the previous month.

Days before Merge, Hive announced that it is testing other coins that can be mined with GPU while developing a strategy on how to make its 6.5 TH/s Ethereum mining capacity (16% of total energy capacity) efficient.

*Not investment advice.