Cryptocurrency production can be a little confusing for people that are just getting into the crypto world.
Unlike fiat currencies that get printed on a piece of paper, digital currencies have to be mined in order to become available to users. When people saw that cryptocurrencies are rising in value, they immediately started to mine so they can earn some bitcoins or other tokens. They started buying expensive equipment for the job but it led them to a bizarre usage of the graphics processing units.
Most independent users started purchasing GPUs so they can improve their mining capabilities and all the graphics card producers such as Nvidia and Intel experienced a surge in sales. However, these mining jobs deteriorated fast and miners started losing the potential benefits they had at the beginning. To try and get back what the miners lost, some of them started selling GPUs but a lot of them saw this as an opportunity and now the cost of new GPUs is in a downward trend so it’s even more difficult for them to get their investment back.
The co-founder of Leonardo Render, a company that provides its customers with an alternative way of using their excess GPU explains:
‘’ Now they have a piece of hardware that is worth half of the purchase value, so selling is a desperate but at least in an option to recover part of the initial investment’’.
Other companies are finding new technologies like artificial intelligence so they can provide researches affordable GPU by harnessing former crypto miners’ capabilities. GPU is a very flexible hardware so various use cases are not beginning to evolve. It’s clear that the era of mining is coming to an end, and GPU users are now willing to try different approaches.
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