Bitcoin, Cryptocurrency And Blockchain News

Researchers and Gamers Frustrated by the 3 Million GPU Sellout due to Miners in 2017


If recent reports are anything to go by, we might be at the peak of the cryptocurrency mining boom as a shortage in mining equipment hits the market, with more than 3 million GPUs selling out in 2017 alone. As a result, chip manufactures are basking in soaring profits as critics warn that the boom might stop researchers from looking out for aliens.

Are the critics scarping the bottom of the barrel with that statement? Well, with the recent shortage of GPUs, researchers from the Search for Extraterrestrial Intelligence Institute (SETI) are not all excited by the frenzy of mining cryptocurrencies as they are quoted by saying,

This is a new problem, it’s only happened on orders we’ve been trying to make in the last couple of months

The Arms Race Between Gamers and Miners

Another report by Dr.Jon Peddle indicates that although the mining rush seems relentless, with the gaming community starting to become outraged by the sudden dropping supply of GPUs, the frenzy will not last long. He is quoted on CCN saying,

Gaming has been and will continue to be the primary driver for GPU sales, augmented by the demand from cryptocurrency miners. We expect demand to slacken from the miners as margins drop in response increasingly utilities costs and supply and demand forces that drive up AIB prices.

The competitive nature of mining has led to devouring of the limited supply like never before. Last year in September, AMD managed to sell out a newly-released graphics card in just five minutes, leaving PC gamers to obtain GPUs at values above market estimates. Although some retailers have earlier tried to offer gamers hardware and software bundles that would otherwise be unattractive to miners, those gamers are still unable to find GPUs at affordable prices in the market.

Will Top Manufacturers Create Mining GPUs?

Even though the top GPU manufacturers have recently debated creating cheaper mining GPUs, the overall impression continues to lean towards focusing on the gaming community, even with the cryptocurrency mining boom. Furthermore, the overall GPU market saw a dip of 4.8 percent according to Dr. Jon Peddie’s report, with AMD increasing revenue by 8.1 percent while Nvidia’s share dropped by 6 percent.

For now however, JTR analysts indicate that the mining industry is attractive, especially for manufacturers of cheap GPUs, and that prices are set to remain high going forward. Dr. Peddie, however, suggests that gamers should take advantage of the mining boom and use their GPUs to mine on the side so as to cope with the current shortage.

What do you think the fate of the mining industry will be? Will the prices of GPUs drop? Share your thoughts and opinions in the comments section.