GPU Prices and Cryptocurrency Returns
15 Pages Posted: 13 Oct 2021 Last revised: 6 Dec 2021
Date Written: December 3, 2021
We look at the association between the price of a cryptocurrency and the secondary market prices of the hardware used to mine it. We find the prices of the most efficient Graphical Processing Units (GPUs) for Ethereum mining are significantly positively correlated with the daily price returns to that cryptocurrency.
Keywords: 3080, ASIC, Bitcoin, crypto, cryptocurrency, ETH, Ethereum, GeForce, GPU, mining, Nvidia, RTX
JEL Classification: G12, G23, L11, L22, L63
Suggested Citation: Suggested Citation