There has been a drop of around 17 percent in the ethereum hash rate - experts believe this could be the result of China's anti-crypto measures.

Nvidia

NVIDIA itself has done a lot to discourage ethereum miners from buying up all its GPUs. However, gamers have not seen any improvement despite NVIDIA's introduction of mining hardware and lowering the hash rate on Ampere-based cards.

However, for gamers about to buy a video card, the good news is that according to Etherscan.io, Ethereum's hash rate has dropped by roughly 17 percent.

The value two days ago was roughly 508 001 GH/s, which is significantly lower than the average of 610 832 GH/s in June. According to calculations, this drop is equivalent to taking 875,000 GeForce RTX 3090s off the network. This is not the case, of course, and ASIC machines are inherently more efficient in this respect (e.g. Bitmain Antminer E9).

The hashrate value yesterday (2021.07.08).
Image source: Screenshot (Etherscan.io).

China

Experts believe that China's anti-crypto measures are behind the decline. Crypto miners are moving out of China in large numbers, mainly to the US, Siberia and Kazakhstan. But this also means that the decline in hash rates is likely to be temporary.

Analysts also say that although the global chip shortage will persist this year and next, there will come a point when miners flood the market with used graphics cards - which could significantly reduce the pricing of video cards. The process has already started, but it will take time before prices can normalise. Because of their age and load, cards used for mining are otherwise significantly cheaper, but in some cases can be fixed by replacing the thermal paste and cooler.