Global GPU price drops to compensate for falling Bitcoin mining revenue
— Mining, Falling, Global, Drops, Compensate, Revenue, Source, Price, Prices, Operational — 1 min read
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. 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. With card manufacturers resuming operations across the world, GPU prices have seen a massive decline with some cards selling for below MSRPs. Marathon Digital Holdings revealed to continue stacking BTC via mining while being “fairly well insulated and well-positioned” Several public Bitcoin miners are well positioned to survive the prolonged bear market as the low revenue continues to sustain the operational costs. Source