Along with Bitcoin miners, Ethereum miners have also felt the impact of China’s mining crackdown. Since the shutdown orders, Ethereum’s hash rate dropped by over 20% since May when mining firms remained offline. Most of the hashing power by Ethereum miners was sourced by GPUs alongside Ethash ASIC miners.
In haste to dispose of Graphical Processing Units, the market is now saturated, implying sellers have had to lower their prices.
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