Is mining of Ethereum close to an unprofitable business?


In response to the new update of Ethereum EIP 1234, the miners of Ethereum are thinking of boycotting the extraction of Ethereum.

The new update of Ethereum EIP 1234 reduces the reward of the block from 3 ETH to 2 ETH. With the fall in the value of Ethereum, the speculations of an even larger Ethereum landfill and reduced block rewards .. many miners are anxious.

"The hype for Ethereum has disappeared, both in terms of mainstream folk and my people. A recovery at $ 1,000 seems unlikely at this time, when it adds The fact that the ASIC will own the network within a year is sure that the GPU that extracts this currency will not be profitable ". is writing Reddit UltraBallUK user in his post "When ETH mining will not pay more energy, what will you do?"

In addition, the transition from GPU extraction to ASIC mining has made many miners unhappy, some of whom have spent more than $ 100K in the construction of mini-mines.

According to TrustNodes, it costs $ 152 of electricity to extract 1 ETH, which currently costs $ 30 less than the current price of Ethereum. There is also an additional cost of mining equipment, storage and if it is a large mining company then the cost of the labor force …

More information on ETH and EIP 1234: https: //www.chepicap .com / en / news / 3414 / what-to-know-about-ethereum-s-constantinople-hard-fork.html

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