Ethereum Miner in Short Supply as ETH Hits 2020 High
The price of Ethereum has reached a new yearly high at $325, surpassing the previous high achieved in February 2020.
In addition, more information about Ethereum 2.0 is disclosed recently, and after the popularity of DeFi, GAS fees began to approach the peak in 2018. Now the popularity of Ethereum has reached an unprecedented level. The commission charge of the ETH perpetual contract has reached 0.102%, and the annualized interest rate has reached 111%, which shows that there is strong bullish sentiment for Ethereum.
The demand for Ethereum mining machinery increased as Ethereum price hits a new high. Miners in China are scrambling for graphics cards and machines.
“The price increase of GPU was mainly caused by two chip suppliers. Due to COVID-019, the order plan was reduced and the production capacity was limited. Moreover, they also consciously limit the mining industry’s excessive procurement to avoid the impact on the subsequent consumer market. I think that a new product is coming after September.”
Said a founder of miner manufacturer in China, NVIDIA will gradually stop production of RTX 20 series GPU chips. Since July, the supply is only about 2 / 3 of the normal scale in June, and there is a serious shortage. It is said that NVIDIA is going to launch a new generation of RTX 30 series graphics cards.
However, as a senior miner of Ethereum, Yao Binbin believes that the increase of chip price is not as high as that of coin price. At present, the mining difficulty of Ethereum has not skyrocketed, and the income of Ethereum miners during this period is satisfactory.
Many of the miners who have recently swarmed into Ethereum mining are previous bitcoin miners. It is estimated that if the payback period of bitcoin miner is 600 days, then it is only 200 days for Ethereum. For example, the mining machine, which ranks first in the Ethereum revenue list, has a net daily profit of about $18 which is four times as much as that of bitcoin.
Data From F2Pool
Data from F2Pool shows that at present, Ant S19Pro has the highest daily profit with $4.62 among bitcoin mining machines with 46% electricity charges. What about Ethereum? There are 28 mining machines whose daily profit exceeds $5, and the daily profit of 7 mining machines is more than $10 with electricity charge of the above 28 mining machines accounts for less than 30%.
“Ethereum continues to lead the crypto market, and the current price adjustment of the machines is relatively small. If the subsequent source of machine supply continues to shrink, we may further adjust the price.”
Said Wang Shenglin, the sales director of innosilicon. These two days, graphics card and miner’ price has increased 1500-2000 Chinese yuan. This time, Ethereum has been accumulating strength for a long time. Both DeFi and Ethereum 2.0 are the main reasons.