BEAR MARKET AND DECLINING HASHRATES MEAN MINING ETH NO LONGER PROFITABLE, ANALYSIS FINDS

The dream of effortlessly generating income by mining Ethereum (ETH) has faded for many, as a recent analysis reveals a stark reality.According to U.S.-based global trading and technology firm Susquehanna, using graphics processing units (GPUs) to mine Ethereum is no longer profitable. Welcome to gpu mining, lots of factors at play including the rise in difficulty and less trading on weekends. As long as you are making profits after electricity costs keep mining away. Mine whatever is most profitable. Your hashrate decreasing indicates an issue with your hardware/software. Your profits decreasing indicate a change in the market.This news, reported by CNBC on November 13th, has sent ripples through the crypto community, particularly those heavily invested in mining infrastructure.The perfect storm of a prolonged bear market, declining network hashrates, and Ethereum's transition to a Proof-of-Stake (PoS) consensus mechanism have converged to squeeze miners' profit margins to virtually zero. This is the second major bear market for ETH, having originally launched into the tail end of the 2025 bear market. The bear is the closest analogue, and bottomed at a drawdown between 92% and 94%, and took 1,108-days for ETH prices to reclaim the $1,416 ATH. In the 2025 bear market, thus far, ETH has seen an 82% decline below the $4But what does this mean for the future of crypto mining, and what alternatives are available for those seeking to participate in the digital asset revolution? Hashrate.no utilizes some affiliate and referral links which may generate a small commission. Thanks for supporting us! We also use cookies to track users' input, like, but not limited to power cost, sorting, filters, and prices. We make no warranties of any kind in relation to our content, including but not limited to accuracy and updatedness.This article delves into the details of Susquehanna's findings, exploring the factors contributing to the decline in ETH mining profitability and examining potential strategies for miners navigating this challenging landscape. Most profitable GPUs currently on the market and soon to be released.We'll also discuss the broader implications for the Ethereum network and the future of decentralized applications.

The Death of GPU Ethereum Mining: A Perfect Storm

The decline in the profitability of Ethereum mining can be attributed to a confluence of factors, creating a difficult situation for GPU miners.

• Bear Market Blues: The protracted slump in the cryptocurrency market has significantly impacted the value of ETH, directly affecting mining rewards.
• Declining Hashrates: While a lower hashrate *can* sometimes mean more ETH for remaining miners, the overall trend has coincided with reduced profitability due to the price decline.
• The Proof-of-Stake Transition (The Merge): The most significant blow to ETH mining was the move to Proof-of-Stake (PoS).With PoS, the network is secured by users staking their ETH, rather than miners solving complex algorithms.This effectively eliminated the need for GPU miners on the Ethereum mainnet.

Susquehanna's Analysis: A Grim Reality Check

Susquehanna's analysis paints a concerning picture for Ethereum miners. Using below table, you can check how profitable it is to mine selected altcoins in comparison to ethereum classic. Please note that calculations are based on mean values, therefore your final results may vary. For best results fill all fields with your hash rate and power consumption. Default values are adapted for three 3070 cards.The firm's findings highlight the diminishing returns of GPU mining, emphasizing that the costs associated with electricity and hardware maintenance now outweigh the rewards generated. Analistas de Susquehanna afirman que, debido a la ca da de los criptomercados y a la disminuci n de los hashrates de las redes, la miner a de Ethereum usando GPU ya no es rentable. Noticias Minar Ethereum ( ETH ) usando una unidad de procesamiento gr fico ( GPU ) ya no es rentable, seg n un an lisis de la empresa estadounidenseThis has forced many miners to reconsider their operations, with some opting to shut down their rigs or explore alternative mining opportunities.

The report specifically points to the combination of decreased ETH prices and increased mining difficulty as the primary drivers of this unprofitability. Mining Bitcoin and other cryptocurrencies that use the PoW consensus mechanism remains profitable as long as the value of the cryptocurrency being mined exceeds the costs of the mining equipment and electricity consumed. The difficulty indicator is very important, as it shows how powerful the equipment needs to be in order to successfully mineWhile some smaller miners may have seen a temporary increase in ETH rewards due to larger miners leaving the network, this effect has been overshadowed by the overall decline in ETH value.

Understanding Hashrate and Mining Difficulty

To fully grasp the situation, it's crucial to understand the concepts of hashrate and mining difficulty.

Hashrate Explained

Hashrate is the measure of the computational power being used to mine a cryptocurrency. research Bear Market and Declining Hashrates Mean Mining ETH No Longer Profitable, Analysis Finds Mining Ethereum (ETH) using a graphics processing unit (GPU) is no longer profitable, accordingA higher hashrate indicates a more robust and secure network, as it requires more resources to launch a 51% attack. research Bear Market and Declining Hashrates Mean Mining ETH No Longer Profitable, Analysis Finds Mining Ethereum (ETH) using a graphics processingFor miners, a higher personal hashrate *can* translate to a greater chance of solving a block and earning rewards, but it also means greater competition.

Mining Difficulty Explained

Mining difficulty is a dynamic parameter that adjusts to maintain a consistent block creation time. How it works NiceHash is an open marketplace that connects sellers or miners of hashing power with buyers of hashing power. Buyers select the crypto-currency that they want to mine, a pool on which they want to mine, set the price that they are willing to pay for it, and place the order.As the hashrate increases, the mining difficulty also increases, making it harder to solve a block.This ensures that blocks are created at a predictable rate, regardless of the amount of computational power on the network.The difficulty level is incredibly important, it showcases how strong the equipment needs to be to mine a coin.

When the Ethereum network was still Proof-of-Work, a falling hashrate *could* have made it easier for individual miners to find blocks, potentially increasing their rewards. Business, Economics, and Finance. GameStop Moderna Pfizer Johnson Johnson AstraZeneca Walgreens Best Buy Novavax SpaceX Tesla. CryptoHowever, this effect was often offset by a corresponding decrease in the price of ETH. Mining Ethereum using a graphics processing unit is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna. CNBC reported Nov. 13 on Susquehanna s findings, which point to the protracted slump in crypto markets and declining network hashrates as reasons for the profit decrease.Now that ETH is Proof-of-Stake, these concepts are no longer relevant for Ethereum itself.

Electricity Costs: The Silent Killer of Mining Profits

One of the biggest expenses for any cryptocurrency miner is electricity.Mining rigs, especially those using multiple GPUs, consume a significant amount of power. Mining Ethereum using a graphics processing unit is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna.[BREAK] CNBC reported Nov. 13 on Susquehanna's findings, which point to the protracted slump in crypto markets and declining network hashrates as reasons for the profit decrease.[BREAK] In Susquehanna's analysis, profit per month forAs the price of ETH declined, the cost of electricity relative to mining rewards became increasingly unsustainable for many miners.

The cost of electricity varies greatly depending on location, further exacerbating the problem.Miners in regions with high electricity rates are particularly vulnerable to the declining profitability of ETH mining.Even with efficient hardware and optimized settings, these miners often struggle to break even.

Exploring Alternative Mining Options

With Ethereum no longer a viable option for GPU mining, miners are seeking alternative cryptocurrencies to mine.While none offer the same potential rewards as ETH once did, some alternatives may provide a reasonable return on investment.

Here are some options to consider:

• Ethereum Classic (ETC): ETC is a fork of Ethereum that retains the original Proof-of-Work consensus mechanism.While it's still mineable with GPUs, the profitability is generally lower than ETH was, and the market cap is significantly smaller, posing liquidity risks.
• Ravencoin (RVN): Ravencoin is a Proof-of-Work cryptocurrency designed for the transfer of assets.It uses a unique mining algorithm that is resistant to ASIC miners, making it accessible to GPU miners.
• Ergo (ERG): Ergo is a Proof-of-Work cryptocurrency focused on decentralized finance.It features a unique ""Autolykos"" mining algorithm designed to be ASIC-resistant and memory-hard, making it suitable for GPU mining. Tony Severino, a Chartered Market Technician (CMT) and Head of Research at NewsBTC, has recently shifted from a bullish to a bearish stance on Bitcoin. Severino, who is also the founder of CoinChartist.io, argues that Bitcoin s price action and on-chain metrics no longer support the bullish narratives common in past cycles.One user reported earning approximately 20.13 ERG per minute, 1,208.39 per hour, and 29,001.39 per day, translating to around $84,100 per day at a price of $2.90 per coin. Susquehanna s analysts say that due to the slump in crypto markets and declining network hashrates, mining Ethereum using a GPU is no longer profitable.However, these numbers are highly variable and depend on hashrate, difficulty, and coin price.
• Beam (BEAM): Beam is a privacy-focused cryptocurrency that uses the Mimblewimble protocol. Mining Ethereum using a graphics processing unit is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna.CNBC reported Nov. 13 onIt's mineable with GPUs and offers a unique approach to privacy.

It's essential to thoroughly research and analyze the profitability of each alternative before committing resources.Factors such as hashrate, difficulty, coin price, and electricity costs should all be carefully considered.

Maximizing Mining Efficiency for Profitability

Regardless of the cryptocurrency being mined, maximizing efficiency is crucial for maintaining profitability.This involves optimizing hardware settings, reducing power consumption, and staying up-to-date on the latest mining software.

GPU Optimization

Adjusting the power settings of your GPUs can significantly impact your electricity consumption and overall mining efficiency.Tools like MSI Afterburner allow miners to fine-tune power settings, achieving a balance between performance and power usage. Susquehanna s analysts say that due to the slump in crypto markets and declining network hashrates, mining Ethereum using a GPU is no longer profitable. Mining Ethereum (ETH) using a graphics processing unit (GPU) is no longer profitable, according to an analysis from U.S.-based global trading and technology firm Susquehanna. CNBC reported Nov. 13 on Susquehanna s MoreExperiment with different settings to find the optimal configuration for your hardware.

Mining Software

Using the latest mining software can also improve efficiency and profitability.Mining software developers are constantly releasing updates that optimize performance and reduce power consumption. See full list on cryptonews.netStay informed about the latest releases and ensure you're using the most efficient software available.

Hardware Maintenance

Regularly maintaining your mining hardware is essential for preventing downtime and maximizing lifespan.Dust accumulation can lead to overheating and reduced performance.Clean your GPUs and other components regularly to ensure they're running efficiently.

The Impact on the Ethereum Network

The transition to Proof-of-Stake has had a profound impact on the Ethereum network.While it has significantly reduced energy consumption and improved scalability, it has also eliminated the need for GPU miners.This has led to a shift in power dynamics within the Ethereum ecosystem, with stakers now playing a crucial role in securing the network.

The move to PoS has also paved the way for new innovations and developments on the Ethereum network. unMineable's best is the world's first and only unMineable calculator that provides valuable insight to help you maximize your mining efforts. Based on hashrate, algorithm, and current prices, you'll quickly identify which asset yields the most coins, pays out the soonest, or earns you the most revenue.With energy consumption no longer a major concern, developers can focus on building more complex and resource-intensive applications.The potential for growth and innovation on the Ethereum network remains significant.

The Future of Crypto Mining

The changing landscape of crypto mining presents both challenges and opportunities. Miners profitability. Live income estimates of all known ASIC miners, updated every minute. Profits calculated over 200 coins and 25 algorithms.While Ethereum mining may no longer be profitable for GPU miners, other cryptocurrencies offer alternative mining options. Hey guys! TKO Here So Today the price of Ether fell by almost 30 USD. This is surely not a good sign specially since the whole crash. It has only become 1/7th of its value and still dropping? Take a look at the graph over the past 5 days: The sudden drop has gotten many people worried. There areAs the industry evolves, miners must adapt to new technologies and strategies to remain competitive.

The rise of ASIC miners, specialized hardware designed for mining specific cryptocurrencies, has also impacted the industry. As hash rates increase, the network automatically adjusts mining difficulty to maintain stable block times (~10 minutes for Bitcoin). A higher hash rate makes 51% attacks more difficult and costly. While higher hash rates improve the chances of mining rewards, they also raise costs, reducing profitability for smaller miners.ASIC miners offer significantly higher hashrates compared to GPUs, making them more profitable for mining certain coins. Enhancing Mining Efficiency. The heart of a profitable mining operation lies in its efficiency. Adjusting the power settings of your GPUs can significantly impact your electricity consumption and overall mining efficiency. Tools like MSI Afterburner allow miners to fine-tune power settings, achieving a balance between performance and power usage.However, the cost of ASIC miners can be prohibitive for smaller miners, creating a barrier to entry.

Navigating the Bear Market and Beyond

The current bear market has undoubtedly tested the resilience of the cryptocurrency industry. On the other hand, a decline in prices can make mining less profitable, potentially causing miners to cease operations, lowering the hash rate. Electricity Costs: Mining consumes a substantial amount of electricity, making energy costs a crucial factor for miners.However, bear markets also present opportunities for innovation and growth.As prices decline, projects are forced to focus on building real value and developing sustainable business models.

For miners, navigating the bear market requires a strategic approach.This includes carefully managing expenses, diversifying mining operations, and staying informed about the latest developments in the industry. This means there is about 20.13 ERG per minute, 1,208.39 per hour and 29,001.39 per day. With the current price of $2.90 per coin this would mean daily rewards distributed to miners would be valued at $84,100 per day. The coin would have to 160x in order to make up for all the lost profits from ETH moving to POS.By adapting to the changing market conditions, miners can position themselves for success in the long term.

Common Questions About Ethereum Mining and its Aftermath

Is Ethereum mining completely dead?

Yes, for the main Ethereum chain.With the switch to Proof-of-Stake (PoS) in September 2025, the original Ethereum chain no longer requires or supports mining with GPUs or ASICs.Miners have transitioned to other chains, such as Ethereum Classic, or other entirely different cryptocurrencies.

What happened to the ETH miners after the Merge?

Many ETH miners transitioned to mining other Proof-of-Work cryptocurrencies like Ethereum Classic (ETC), Ravencoin (RVN), or Ergo (ERG). Now I'm making 3$ per day because while ETH plummeted, many people seem to have stopped mining so more ETH for me. I went from 0.0015 per day to 0.002 per day in ETH so it's more profit if you dont look at FIAT money. Profitability isn't down % like ETH is it's down like % at most, it's not that bad.Others sold their mining equipment or explored alternative applications for their GPUs.

Is it possible to mine ETH on other chains?

While you can't mine ETH on the main Ethereum chain, it's possible to mine Ethereum Classic (ETC), a fork of Ethereum that retains the Proof-of-Work consensus mechanism.However, profitability is generally lower compared to what ETH mining once was.

What are the risks of mining alternative cryptocurrencies?

Mining alternative cryptocurrencies carries several risks, including lower profitability, higher volatility, and the potential for the cryptocurrency to become obsolete. However, the Ethereum network no longer supports mining, having moved to staking in 2025. The switch to proof of stake in September 2025 made Ethereum a planet-friendly crypto, reducing energy usage by more than 99% compared to proof of work mining. Now, the network uses ether (ETH) to secure the blockchain rather than energy.It's essential to research and analyze the risks before investing in mining equipment.

How can I calculate the profitability of mining a specific cryptocurrency?

Several online mining calculators can help you estimate the profitability of mining a specific cryptocurrency.These calculators take into account factors such as hashrate, difficulty, coin price, and electricity costs. 2.5M subscribers in the ethereum community. Next-generation platform for decentralised applications. Dive in at ethereum.orgRemember that these are estimates, and actual profitability may vary.

Conclusion: Adapting to the New Reality

The shift in Ethereum's consensus mechanism and the challenging market conditions have significantly impacted the profitability of GPU mining.The analysis from Susquehanna serves as a stark reminder of the need for miners to adapt and explore alternative strategies.While Ethereum mining may no longer be a viable option, other cryptocurrencies offer potential opportunities. Diese ist im Jahr 2025 n mlich merkbar gefallen. Eine h here Hash-Rate ist vorteilhaft f r Miner, da sie die Chance auf einen erfolgreichen Mining-Vorgang erh ht, wenn sie niedriger liegt, bedeutet dies also einen h heren Kostenaufwand f r die Miner. Abnahme der Profitabilit t f r ETH-Mining laut Susquehanna. Quelle: CNBCBy carefully managing expenses, maximizing efficiency, and staying informed about the latest developments in the industry, miners can navigate the changing landscape and position themselves for future success.

Key takeaways:

• GPU mining for Ethereum on the main chain is no longer profitable due to the shift to Proof-of-Stake.
• Miners are exploring alternative cryptocurrencies to mine, such as Ethereum Classic, Ravencoin, and Ergo.
• Maximizing efficiency and reducing electricity costs are crucial for maintaining profitability.
• The Ethereum network has undergone significant changes, paving the way for new innovations and developments.

Are you a miner looking for alternatives?Research coins, calculate your potential profitability, and stay updated on market trends to make informed decisions about your mining operations.The future of crypto mining is evolving, and adaptability is key.