#Ethereum miners spent $15 billion on GPUs in the last two years

source: https://www.techradar.com/in/news/ethereum-miners-spent-dollar15-billion-on-gpus-in-just-over-one-year

But now with its value tanking, many cryptoinvestors have found themselves unable to recoup the losses from spending so much money on GPUs and other parts. One such story, as outlined in the Bloomberg article, has one man who invested $30,000 in #cryptomining #hardware in mid-2021 but has only made about $5,000 so far through crypto.

That’s not even considering the environmental impact of all this mining, as the level of #carbon #emissions has always been a major #problem with cryptocurrencies. And it could be argued that between the waste of the GPUs purchased for #mining coupled with the environmental #damage, the value of Ethereum alone declining so steeply has made this all for nothing.

#news #environment #climate #crypto #cryptoCurrency #co2 #gpu #money #profit #crash #eth