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Chinese Cryptocurrency Miners Reportedly Buy New Laptops From Nvidia Over Ether (ETH) amid the altcoin is reaching new all-time highs.

According to various sources, Nvidia’s latest GeForce RTX 30 laptops have become increasingly popular in China as a cryptocurrency mining tool.

On February 6, a Weibo user known as BTCer came across Posted a ton of graphics showing off GeForce RTX 30 series gaming laptops that make up a solid crypto mining company. “A laptop mine is underway,” BTCer noted in the post with dozens of laptops piled up on shelves.

Source: Weibo

Several technical media outlets, including VideoCardz and Wccftech then suggested that the mining farm was set up specifically for the mining of Ether. The reports also mentioned a recent pleasure video by Bilibili user Fish Pond F2pool shows how easy it is to mine crypto on a laptop equipped with a new RTX 3060 graphics card. Using a laptop plugged into the outlet at Starbucks, the user would have mined 0.00053 ETH (worth an estimated $ 0.89) in about two hours.

According to some estimatesone GeForce RTX 3060 laptop can potentially generate up to about 2.3 ETH per year ($ 3,900) at current prices, apparently able to cover the cost of the laptop and energy costs in China. To have arrived hit the market on January 26, several GeForce RTX 30 series laptops are priced between $ 1,000 and $ 2,000.

Chinese GPU miners are apparently driving more demand into the already tight market, should the latest reports be true. In January 2021, Colette Kress became Nvidia’s chief financial officer said that the company’s supply “is likely to remain lean during the first quarter,” arguing demand for gaming was “off the charts,” and the company has not been able to keep up.

The price increases in ether are historical associated with higher miner rewards, mainly generated by abnormally high gas costs. On February 5, average gas costs peaked at a record high of $ 25.2 amid Ethereum break above $ 1,700.

As is Ethereum set to become a Proof-of-Stake blockchain one day the Ethereum mining community will have to find other options to generate rewards. As reported, the first phase of the PoS upgrade was from Ethereum launched at the end of 2020.