Everyone already knows that crypto memory workers are causing a shortage of the latest graphics cards on top of the existing shortage, but now major mining is causing power outages. In Iran, the authorities investigated the cause of the power outage and found that the reason was that mining in the GPU took huge amounts of power.
Mining has become so bad that cities are facing power outages due to insane power consumption on large mining operations
This is not just any average mining operation run by a miner, this is complete industrial-level activity that has moved from China to Iran. In Iran, power is produced at a cost of 1.8 cents per kilowatt-hour and sold to over ten times as much to the public, but the miners manage to get it to 2.2 cents per kilowatt-hour. Not even China can match these prices, so miners have moved their business to Tehran because it is the most cost effective.
After investigations, the Iranian authorities concluded that there are 14 huge crypto operations in Iran that consumed 300 megawatts, but with full capacity could consume up to 450 megawatts. As a reference, so much power can give a city of 100,000 inhabitants. All of this makes Iran the sixth most popular cryptocurrency destination in the world.
The cards used in the mining farms are not specially built mining cards; they are normal consumer cards. Many have been suspicious that Nvidia and its partners sell cards directly to miners, and Nvidia has not said anything about it, so we assume they are not against it. Now laptops are even being acquired to utilize the GPU in mining. At this point, something with a modern GPU in it, miners will try to get it.
This is an unfortunate time for people trying to build a PC, because it is almost impossible to get a GPU due to the initial shortage which is now worse with a boom in cryptocurrency as well as tariff increases in prices. Not only do you have to compete with scalpers, but you also have to compete with miners to get the latest graphics cards, and hope Nvidia and its partners do not sell them directly to miners.