So, folks, in the past few days Ethereum price has been skyrocketing with currently over $3000. That’s an insane increase in its price which is continuously going upwards and is likely to retain its current rate as per reports.
With that said, you can expect more people to enter into mining which is directly proportional to the decreasing stocks of graphics cards. Already, there is a massive shortage of GPUs that we have ever seen and this only adds a big dent into the GPU inventory.
The problem is, however, not only the GPU prices going in the sky but also the increasing power consumption. As per the new energy tracker run by Cambridge University, the Bitcoin mining process worldwide is consuming as much power as the whole of Argentina.
Argentina currently holds a population of 45 million people. So, that’s something serious and with 0.5% of total world power consumption, it is something we should be serious about. As the graphics cards in bulk run 24/7, they emit a significant amount of carbon that is unhealthy to the environment.
While we are yet to see what fate these cryptocurrencies will have, the only thing we care about is that gamers should get the new gaming GPUs.
A few days back, Nvidia and AMD both reported having been working seriously on improving the graphics cards availability. AMD says that is going to ramp up the production while Nvidia is set to release the new RTX 3060 that has a hash rate limiter inbuilt with the latest Nvidia Geforce Game Ready Driver 466.27.