The numbers don’t lie

After the conclusion of the upgrade, the value of numerous sought-after GPUs has dropped quite drastically. For example, reports indicate that the value of Nvidia’s highly popular RTX 3080 has dipped from $1,118 to approximately $700 (over the last three-month stretch) within China. Similarly, the price of GPUs manufactured by firms like MSI has dropped by $280 since late July.

To get a better idea of whether these price drops could have been influenced by the hype surrounding the Ethereum Merge, Cointelegraph reached out to Crypto White, the pseudonymous chief technical officer for ZK.Work — a mining platform for zero-knowledge proofs. He pointed out that before the Merge, ETH had a total of 860 TH/s hashing power, of which less than 200TH/s went to Ethereum Classic and ETHW, a PoW fork of ETH that went live after the upgrade, alongside other mining projects, while 660TH/s was shut down temporarily.

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