In a nutshell: Nvidia’s new mobile RTX GPUs began to be available worldwide last week, in a taste of tempting new laptops. But in some regions, the release was mutilated by Ethereum miners who bought them directly from the producers.
The price of Ethereum quadrupled in 2020, and after a sudden acceleration in January, it exceeded its previous all-time high from the end of 2017. The rise has helped the cryptocurrency mining industry experience an unfortunate renaissance that could lead to a repeat of 2017- the disaster. .
Normally, it is only possible to recover profitably with desktop GPUs sold alone. Prefabricated systems and laptops have a higher mark, and include components that are not useful to miners. However, these disadvantages have recently been negated, partly due to rising cryptocurrency prices, and partly due to the improved performance offered by new Nvidia GPU releases.
So it has become profitable to break with cheap gaming laptops. Some miners in China have purchased shipments of new laptops and installed them in dedicated mining operations. The images below are of brand new laptops, possibly with RTX 3070 and RTX 3060s inside.
Chinese miners are crazy 🤣🤣 https://t.co/yOA1wC5U3a pic.twitter.com/EvQccY6DHG
– I_Leak_VN (@I_Leak_VN) February 6, 2021
Mining has also become easier. A mining rig can be configured in just a few minutes using simple (evil) software and informative (evil) articles from disrespectful news sites. It’s so simple you can do it on the go, as a Chinese content creator demonstrates in this fun video.
If you do not want to watch the video in Chinese, here is an overview: she has just bought a new Asus laptop with an RTX 3060, and she has taken it to a Starbucks. Connect it. Started mining of Ethereum. Brought a coffee. Did some work. And two hours later she collected the cost of the coffee, and she goes home. It’s ridiculous.
Fortunately, it is unlikely that laptop mining will be profitable, apart from the scale in certain regions, so it should not affect global accessibility. But it highlights the strength of cryptocurrencies.