The slump in cryptocurrency prices this year has also led to lower mining activity for bitcoins (^BTCUSD). The reduced mining activity has taken a toll on the use of graphic cards that have become an essential component of the systems that generate digital coins.
With the value of cryptocurrencies plummeting, miners see less of a need for expensive computer hardware. Moreover, the demand may shrink even further as the Ethereum (^ETHUSD) blockchain network shifts to a new method called “proof of stake,” which won’t require the same heavy-duty computer processing. Nvidia (NVDA) and Advanced Micro Devices (AMD) are the biggest makers of these graphics cards used by crypto miners.
A graphics card is a component that fits into a personal computer and converts code into images that can be displayed on a monitor. It’s outfitted with chips known as graphics processing units (GPUs). Crypto miners discovered that gaming gear designed to play video games in high resolution could also be...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...