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CRYPTO INSIDER: Mining ethereum is about to get a lot cheaper
Bitmain's new ethereum rig is the first of its kind, is 2.5x more powerful, and costs just $800. RBC says it could cut into Nvidia's profits.
Yesterday, Bitmain announced a new ASIC (application-specific integrated circuit) mining rig specifically for ethereum.
Not only is it about 2.5 times more powerful than current GPU mining systems while costing only $800, RBC Capital Markets says it could make a dent in the boost Nvidia has seen from cryptocurrencies in the past year.
Here are the current crypto prices:
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