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Global GPU price drops to compensate for falling Bitcoin mining revenue

Published 07/09/2022, 05:47 AM
Updated 07/10/2022, 07:40 AM
Global GPU price drops to compensate for falling Bitcoin mining revenue

Global GPU price drops to compensate for falling Bitcoin mining revenue

As a direct result of falling Bitcoin (BTC) prices, total revenue earned by miners in transaction fees and mining rewards dropped to its one-year lows at nearly $15 million on July 4. However, a concurrent fall in graphic cards or GPU prices is set to help miners offset their operational costs amid an ongoing bear market.

Bitcoin mining revenue fell 79.6% over a period of 9 months, ever since reaching an all-time high of $74.4 million on Oct. 25, 2021. In addition, a global chip shortage and the coronavirus pandemic shot up prices of the most important part of a mining rig — the graphics processing unit (GPU) — further impacting the miners’ bottom line.

Bitcoin mining revenue over the past year. Source: Blockchain.com
GPU price trend over the past one year. Source: TechSpot
Monthly operating cash flow vs. mining revenue. Source: Arcane Crypto

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Latest comments

concurrent means that gpu prices have already fallen. A 15 million dollar industry is not going to effect global gpu prices much
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