Demand for graphic cards is rising once again as bitcoin jumps nearly 200 percent since February.
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“The surge in bitcoin resulted in increased demand and supplies were already short,” said Steven Mosher, head of global sales and marketing at Canaan Creative, maker of the Avalon miner.
“The current state of the industry is that inventories are down, and demand is high. It looks like a return to the 2017 Q3, Q4 conditions, where demand was three times the supply.”
During July to September 2017, the price of bitcoin had doubled, subsequently rising another four times during Q4 of 2017, reaching approximately $20,000.
According to mining and trading research group TokenInsight, the average time to turn profit on any given mining equipment has dropped from 150 days down to just 60 days.
Last month, Canaan launched its new AvalonMiner 1041, boasting 37 tera hashes per second (TH/s), while only consuming 2,361 watts per hour.
The older model, the Avalon 851, performed approximately 14.5TH/s, consuming 1450 watts an hour.
Mosher stated the pre-orders are already backorder out to late October as interest grows from larger customers.
Last week, Bitmain released their improved AntMiner S9 model, the AntMiner S9 SE and S9k, with shipping not scheduled until August.
Bitcoin’s hashrate, the overall amount of power devoted to the network, recently hit an all-time high, averaging 58 million TH/s.
The hashrate has increased nearly 80 percent since Q4 of last year when the rate dropped as low as 36 million TH/s during the long bear run.