1 year ago
Crypto miners who initially flocked graphics processing unit (GPU)-compatible proof-of-work tokens aft Ethereum (ETH) Merge are fleeing those networks aft the worth of their tokens fell, according to disposable data.
Ethereum Cash
Ethereum Cash (ETC) has seen its hash complaint driblet to 157.51TH/s aft peaking astatine 303.7 TH/s connected the time aft the merge –Sept. 15– according to data from 2miners.
According to 2miners data, ETC mining trouble has fallen to 2.06P from implicit 2.5P post-merge.
ETC’s terms rally besides appears to beryllium implicit arsenic the plus has shed astir of its gains implicit the erstwhile weeks. Since Ethereum’s merge, ETC has shed 26% of its value.
Over the past 24 hours, the plus is down 3%, trading for $28.22 –a acold outcry from its worth during the tally into the merge.
Ravencoin
Another PoW token that attracted respective miners post-merge was Ravencoin (RVN).
RVN saw its web hashrate rise from astir 3 TH/s connected Sept. 9 to implicit 22 TH/s by Sept. 17. However, that fig has present fallen to 15.09 TH/s arsenic of property time.
The network’s mining trouble has dropped to 208.47K from implicit 300K.
RVN’s terms has mirrored the diminution successful its hashrate and mining difficulty. According to CryptoSlate data, the token has shed astir 46% of its worth since the merge.
Over the past 24 hours, RVN has mislaid 6.23% of its value.
Ergo
Ergo (ERG) is the worst deed arsenic its mining hashrate tanked astir 91%. According to 2miners data, Ergo’s hashrate peaked at 303.41TH/s connected Sept. 15. However, that fig has steadily declined to 27.90 TH/s arsenic of property time.
Its web mining difficulty is presently 16.61P aft peaking astatine 21.67P connected Sept. 17.
Its terms has besides had a akin performance. After peaking astatine $5.21 connected Sept. 15, it has shed 37.3% of its worth to commercialized astatine $2.64 arsenic of property time.
Ethereum POW
Ethereum proof-of-work token has besides seen its mining hashrate driblet aft the merge. According to 2miners data, ETHPOW hashrate is presently astatine 47.16TH/s. The network’s hashrate peaked astatine 79.42TH/s connected Sept. 15.
Meanwhile, it should beryllium noted that ETHPOW’s hashrate is steadily gaining crushed arsenic the web sees much uses. According to OKLink data, the web blockchain has processed 1.7 cardinal transactions since its launch.
However, ETHPOW’s worth has been downward since Sept. 15, erstwhile it traded for $51.5. The token has sold for arsenic debased arsenic $5.31 earlier somewhat recovering to $9.51, according to Coingecko data.
GPU terms tanks successful China
Reports person revealed that the worth of GPU machines has dropped by arsenic overmuch arsenic 40% successful China since the Ethereum merge.
According to the report, erstwhile Ethereum was inactive a proof-of-work token, the request for high-end graphic cards specified arsenic the Nvidia GeForce RTX 3080 and 3090 was high, which pushed the retail worth of these GPUs up.
However, since the merge, request for these machines has considerably dried up, particularly arsenic the worth of different tokens the GPU machines could excavation was importantly lower. Meanwhile, gamers person seen this driblet arsenic a summation arsenic they tin get these GPUs astatine much affordable rates.
The station Miners fly PoW tokens arsenic token prices tank, GPU worth flounders appeared archetypal connected CryptoSlate.
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