Susquehanna International Group, a global trading and technology company, has announced that mining ETH with a graphics processing unit (GPU) is no longer a profitable activity. According to the company’s analysis, the dollar-denominated monthly returns from GPU mining of ETH fell to approximately zero as of Nov. 1. In a note issued to clients, Christopher Rolland — a semiconductor analyst for Susquehanna International — clearly stated that GPU ETH mining is “no longer profitable.”
According to the company’s analysis, the profitability of GPU mining of ether peaked at around $65 per month at the start of the year, before dropping as low as $20 in April, as a result of a significant drop in the price of ETH during the first quarter. Profitability rose to roughly $30 throughout most of the second quarter, before sliding down to zero in the following months.