The period from 2020 to 2022 was marked by skyrocketing GPU prices due to high demand from miners. The pandemic only exacerbated the situation, with GPUs being particularly sought after for Ethereum mining. However, the good news was that this shortage came to an end in September 2022. Fast forward to 2024, and a new mining crunch seems to be emerging, this time targeting CPUs, specifically, the AMD Ryzen variety.
An analysis by Wccftech has highlighted the surge in mining profitability of several proof-of-work (PoW) coins that perform best on CPUs. This surge is attributed to Bitcoin’s new all-time highs, which have a ripple effect on the alt-coin market. Despite some of these coins being deemed less valuable, the potential for earning money draws miners in, leading to an increased demand for PC hardware.
The AMD Ryzen 9 7950X is a notable example of the impact of CPU mining on the market. Its list price has exceeded its launch price, with supply shortages becoming apparent at online retailers like Newegg. The dominance of high core count AMD chips in benchmarks for mining algorithms like RandomX further underscores the increased demand for these CPUs in the mining community.
AMD’s Ryzen 7000-series CPUs are gaining popularity among miners due to their mining capabilities. These CPUs excel in algorithms that require a large amount of L3 cache, benefit from AVX instructions, and offer miner-appealing power efficiency. As a result, CPUs like the AMD Ryzen 7950X are in high demand for mining operations, potentially causing supply shortages for gamers and other consumers.
With the potential for increased mining profitability in both established and lesser-known cryptocurrencies, the outlook for CPU availability in the market remains uncertain. As Bitcoin’s value continues to rise and more money flows into the crypto market, the demand for high-performance CPUs for mining operations is expected to grow. This poses a challenge for consumers, particularly those looking to purchase high core count Zen 5 CPUs in the months ahead.
The mining crunch on AMD Ryzen CPUs in 2024 highlights the evolving landscape of cryptocurrency mining and its impact on the hardware market. As miners seek out profitable opportunities in CPU mining, consumers may face challenges in obtaining high-performance CPUs for gaming and other purposes. The future of CPU availability will likely be influenced by the continued growth of the crypto market and the profitability of different mining algorithms. Only time will tell how this situation unfolds and its implications for both miners and consumers.
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