Crypto Mining GPUs and ASIC Miners Price Drop!

 In Hosting, Industry, Miners

Crypto Mining GPUs and ASIC Miners Price Drop!

Crypto Mining

There have been reports regarding graphics card suppliers decreasing their prices due to the slump in the crypto market for the month of June. With the slump in the crypto market, mining is expected to decrease also. The slump not only affected GPU miners but also ASIC Miners; ASIC miners are predicted to decrease by 20% in price due to this. This slump has led to Nvidia postponing their new GPU releases to later this year.

The Positive and Negative Of The Slump

Bitcoin and Miner

The slump has both a positive and negative impact on the crypto market.

The Positive

  • Cheaper Miners (GPU and ASIC)
  • Lower start-up cost for new mining setups
  • Decrease in cost for current mining operations to upgrade to higher hash rate
  • To gamers, this is a positive as GPU’s price will drop

The Negative

  • Could lead to a further slump in the market as most people see this as the market not accepting crypto
  • Stocks of graphics card and ASIC miner suppliers drop and in turn drive the market further into the belief that crypto is dying

Crypto Prices

As reported by Coin360 in the below picture, you can see that BTC is up 0.45% (From July 3-July 4). Other top cryptocurrencies also saw a positive price increase.

Cryptocurrency Prices July 4

The price increase is the opposite of what one would expect with the market slump and the prediction of the Bitcoin bubble bursting. Referring to the comparison of the positive and negative of miners price drop, you can see that there are more positives than negatives. With the positive outweighing the negatives, you could assume that the market saw this as an opportunity to invest more into crypto (trading or mining), which in turn increased the price.

Right now is a high time to invest in miner hosting. With lower start-up cost, it would be easier for someone to have a mining farm up and running. MiningSky provides simple and effective GPU mining rigs along with miner hosting service. Contact MiningSky today!

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