Crypto glossary
GPU mining
GPU mining uses graphics cards to mine proof-of-work coins whose algorithms resist ASICs; it collapsed for most miners after Ethereum's Merge in 2022.
Graphics cards are good at running many simple calculations in parallel, which made them the main mining hardware for bitcoin until ASICs took over around 2013. Coins later designed memory-hard algorithms, such as Ethereum's Ethash, so that general-purpose GPUs stayed competitive and mining would remain open to ordinary users with gaming hardware.
Ethereum was by far the largest GPU-mined network, and its 2021 boom contributed to graphics card shortages. When Ethereum switched to proof of stake in September 2022, that demand disappeared overnight. Hashrate flooded smaller coins such as Ethereum Classic and Ravencoin, crushing their profitability, and many miners sold their cards or redirected them to rendering and AI computing.
Today GPU mining is a niche with thin margins, highly dependent on cheap electricity and on small-cap coins whose prices are volatile. Some algorithms once marketed as ASIC-resistant later got dedicated machines anyway. Used mining cards are sold widely, and buyers should be aware that some ran at full load for years.
Example
A miner with eight graphics cards earned steady ETH until September 2022; after the Merge, switching the rig to another coin brought in a fraction of the previous income.