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Ethereum Cryptocurrency Mining Frenzy, Shortage of GPU’s in SA

The entire country is experiencing a shortage of graphics cards. Especially NVIDIA GeForce GTX 1060 are out of stock everywhere. This is following the current hype around Ethereum and Cryptocurrencies.

 

Ethereum is a 3 year old  Cryptocurrency created by Vitalik Buterin. Ethereum has recently skyrocketed due to the current climate and hype around the technology. More recently Cryptocurrency miners have been more profitable than ever before for anyone who has been able to get there hands on high-spec GPU graphics cards.

 

Ethereum Mining Profitability

Mining Profitability by Cryptocompare.com

The mining frenzy has caused a shortage of GPU’s in the country with prices sky-rocketing at computer hardware stores and distributors nationwide. NVIDIA GeForce GTX 1060 are out of stock everywhere. The GTX 1060 cards typically cost around R5,000 are said to be reurning miners roughly R1469/month in the form of Ether Cryptocurrency.

The relatively new Cryptocurrency recently soared in value slowly catching up on Bitcoins marketcap. Ethereums total marketcap is currently R403 Billion, Bitcoins current marketcap is R572 Billio.

Top 10

Top 10 Cryptocurrencies by Marketcap according to Coinmarketcap.com

 

 

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