The secret code of wealth: Ethereum soars, graphics cards are out of stock, and chip stocks hit new highs
Editor's Note: This article comes fromDeep tide TechFlow (ID: Tech-Flow), Author: Bonnie, reproduced by Odaily with authorization.
Editor's Note: This article comes from
Deep tide TechFlow (ID: Tech-Flow)
Deep tide TechFlow (ID: Tech-Flow)
, Author: Bonnie, reproduced by Odaily with authorization.
The slogan refers to graphics card miners. With the recent popularity of DeFi and the skyrocketing price of Ethereum tokens, graphics cards have become hot again.
"It's out of stock, it's been swept away by mining companies." Several graphics card sellers consulted by Shenchao TechFlow will receive such a reply. On major e-commerce platforms, graphics cards have become hard to find.
It’s not just the mining circle that is buzzing. The stock prices of two graphics chip manufacturers, Nvidia and AMD, are also rising. AMD broke through a new high to $85.31, and Nvidia also created the highest stock price in the past 20 years of $451.47.
Ethereum is soaring, graphics cards are out of stock, and chip manufacturers' stock prices are at a new high... Is the butterfly effect brought about by the DeFi boom behind the hot market?
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Graphics card skyrocketing
"More than 10,000 blocks of ETH are left, and I am gratified that the price of the graphics card that has been mined for 2 years has increased," Gu Bin said.
Last year, if the miners talked about Ethereum, they usually diverged after two sentences. In August of this year, Ethereum broke through $400, reaching a new high since 2018. “A lot of miners started talking about graphics card mining, especially about Ethereum.”
In 2018, Gu Bin bought 600 P104 graphics cards, each for 600 yuan. This is a special mining card based on the GTX1080/1060 chip launched by Nvidia. Two years later, each card rose to 900 yuan.
In the past two years, in addition to being a 2-year financial product with a yield of 50%, graphics card mining machines have also produced countless ethers.
"The graphics card is skyrocketing." Ravi, an Ethereum mining machine seller, told Shenchao TechFlow that in the past half a month, GTX 1660S has risen from 1,300 yuan to 1,700 yuan, and A card 588 has risen from 900 yuan to 1,300 yuan. no stock".
Shenchao TechFlow asked the top five sellers of A-card 588 sales on Taobao. Except for one store who offered a price of 2699 yuan (about twice the market price), the rest said they were sold out. "The whole network is short of goods." ".
Different from ASIC mining machines, the graphics cards of Ethereum mining machines can be recycled by computer cities, Internet cafes, etc., and the residual value processing is relatively high. According to a widely circulated news on the Internet, the residual value of the A card can reach 40%, and the residual value of the N card can reach 60%.
"The graphics card mining machine maintains value and has few routines." Gu Bin concluded, so the lower limit of graphics card miners is much higher than that of Bitcoin miners. Even if the currency circle is in a bear market, some new small graphics card coins with good returns will emerge from time to time, "at least There will be no bones left."
If the lower limit of graphics card mining is covered by the gaming and e-sports industry, what is the upper limit of graphics card prices?
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Graphics card price support
The popularity of graphics card mining machines stems from the skyrocketing price of Ethereum, which is often attributed to the popularity of DeFi.
The total market value of DeFi tokens has increased 10 times in 3 months. Ethereum token prices have also broken out to new highs from 2019.
According to PAData statistics, since the beginning of this year, the Gas Price has increased by 8 times. Under the fiat currency standard, the Gas fee for each transaction on the chain has increased by 16 times, with an average transaction fee of $1.92.
This is all thanks to DeFi.
Take the most popular Uniswap on DeFi as an example. Under the wealth effect, the number of transfers per day can reach 80,000. In order to facilitate the transaction as soon as possible, the gas fee can reach 150 US dollars. According to incomplete statistics, the daily handling fee consumed on Uniswap is 8 million US dollars.
The mining income of Ethereum miners, in addition to the two high-priced service fee failures near June 10, the recent mining income has reached a high point
In addition to the stimulation of DeFi, the prosperity of Filecoin has also pushed up the price of graphics cards. Against the background of the huge fundraising of Filecoin tokens, the project valuation has exceeded 10 billion US dollars.
Filecoin mining machine components include CPU, GPU (graphics card), motherboard, hard disk, and memory, which are similar to a high-performance computer. Currently, there are about 200 to 300 Filecoin mining machine sellers.
In addition to being inseparable from AMD processors, most Filecoin mining machines are equipped with 2080Ti graphics cards, which are responsible for generating space-time proofs in mining.
Since the beginning of this year, 2080Ti-related graphics cards have risen from 6,000 yuan to around 9,000 yuan.
On the other hand, the reduction of graphics card output is also the direct reason for the price to be pushed up.
According to media reports, Nvidia will gradually stop production of RTX 20 series GPU chips, and the supply in July is only 2/3 of that in June.
Zhang Li, the co-founder of Langshen Mining Machine, told TechFlow that recently, AMD canceled the discount for all AIB (certified partners), and previously AMD would give AIB a rebate of $30 per chip.
Zhang Li also said that Nvidia and AMD consciously limit excessive purchases in the mining industry to avoid impacting the subsequent consumer market.
"I dare say that graphics card machines are definitely the most profitable among all mining machines." Gu Bin said that this is the direct reason for the skyrocketing price of graphics cards, and even chip manufacturers have begun to regulate them.
The sky for Bitcoin miners has fallen, and the sky for graphics card mining has risen.
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wealth password
Over the past month, the ethereum token has rallied more than 75 percent and is now trading at $397, a new high from 2019.
"We are also considering switching to a graphics card." A Bitcoin mine owner said that after the Bitcoin halving, many colleagues sold their mines and prepared to switch careers.
"Currently, it may take 600 days for the profit return cycle obtained by Bitcoin mining, but it can be reduced to 200 days by using Ethereum mining." Gu Bin said that the return time for mining Ethereum is about 1/2 of the time for mining Bitcoin. 3. Payback means earning back profits as soon as possible.
According to previous reports from Shenchao, the vast majority of thermal power mines in Xinjiang and Inner Mongolia are vacant. But now, some mines have been filled with graphics card mining machines.
At present, according to the electricity price of 30 cents per kilowatt-hour, the daily net income of some mainstream mining machines in Ethereum exceeds 90 yuan, and electricity costs account for less than 20%.
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Source: Spark Pool
There are two types of Ethereum mining machines: DIY graphics card mining machines and customized GPU mining machines.
On July 14, Bitmain launched a new Ethereum mining machine, E7, with an average computing power of 500M to 550M. The Ant Sentinel website detected that there were nearly a thousand E7 mining machines at that time.
According to the analysis of Block Rhythm, due to the scale of less than 1,000 units, E7 may not be listed for sale, and it is only used for internal mine mining. Hou Wu said that the blockchain also stated that the E7 will not be sold at present.
"Good machines that can guarantee profitability will only be reserved for self-digging, and machines with high risks and no profit will be sold." Gu Bin jokingly said.
For newcomers who want to enter the market, is it still a good time to enter Ethereum mining?
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Can I still get in the car?
As of the close on August 5, Eastern Time, AMD's stock price was $85.31, a new high since 2000, while Nvidia's stock price was $451.47, the highest in history.
It is not only the chip manufacturers who get the benefits, but also the Ethereum miners who have laid out in advance.
An Ethereum miner told Shenchao TechFlow that since the deployment of Ethereum mining machines in April this year, the coins dug up and the sale of second-hand graphics cards have already paid off, "re-mining is profit."
After a group of people earn a lot of money, is Ethereum mining still worth entering?
According to the analysis of Deep Tide TechFlow, there are currently three reasons for supporting entry:
Ethereum has a stable mining difficulty and output;
Ethereum is the number one value public chain, with commercial feasibility, and the application on the chain ranks first;
The Ethereum DAG file grows by 512M per year, and the current memory usage is 3.752G. By the end of this year, nearly 40% of the 4G mining machines with insufficient video memory will be retired, the computing power of Ethereum will drop sharply, and the mining income (coin standard) will increase accordingly.
It is reported that the Ethash algorithm will consume the video memory of the graphics card, requiring the verification information of the new block to contain the encrypted information of all previous blocks, that is, the DAG file will be stored in the video memory during mining.
For example, the Innosilicon A10 memory only has 5G, and it faces the risk of "retirement" in the next two years. "I haven't heard that 6G is upgraded, and the demand for ddr6 or hbm video memory cannot be avoided. Innosilicon's own gddr technology is not very mature." An industry insider said.
There are also three reasons for opposing mining:
The price of the currency has risen, and the time to buy the bottom has passed. "The price of the currency has risen, and then the real hero who buys the machine" may become a catcher;
The threshold for graphics card mining is high, the debugging complexity is higher than that of ASIC mining machines, and the stability is worse than ASIC mining machines, which is very challenging for operation and maintenance;
Ethereum 2.0 is coming soon, which will change from PoW to PoS. However, according to official sources, after the upgrade of the Ethereum network, ETH 1.0 will continue to exist for 3 to 5 years, so the current Ethereum miners can still mine for a while. From the current point of view, the risk of buying a new machine is relatively high.
Zhang Li calculated that it would take 10 to 12 months to pay back the cost of buying a new mining machine.
According to the statistics of Shenchao TechFlow, taking the P104 8-card mining machine with a second-hand price of 10,000 yuan as an example, in the case of 35 cents per kWh, the daily net income displayed by the Spark Mining Pool is 75 yuan, which takes about 3 months to recover. Book.
