RATE Group | End of cryptocurrency gold rush hits demand for graphics card miners
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End of cryptocurrency gold rush hits demand for graphics card miners

27 Aug End of cryptocurrency gold rush hits demand for graphics card miners

Posted at 15:04h in Cryptocurrency News by

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Demand for graphics cards has slumped back to pre-cryptocurrency boom prices as the price of Bitcoin and other digital currencies continues to fall, even as new card designs threaten to shake-up the market.

Graphics card makers, such as Nvidia, had hoped the cryptocurrency boom would boost sales throughout the year, estimating returns of hundreds of millions of dollars.

But the price of many graphics cards, normally used for video gaming but coopted for mining cryptocurrencies, has halved in recent months. The price of a top level Nvidia GTX 1080 card fell from around £800 in January to around £400 this month.

Cryptocurrencies such as Bitcoin, a digital currency that exists only online, are generated…

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