The new record price of bitcoin is over $75,000

Bitcoin hit a new record, breaking the $75,000 mark for the first time. According to Coindesk, its 24-hour high was $75,363, and the current price ranges between $74,000 and $75,000. This is an update of the all-time high previously set in March at the level of about $73.8 thousand. The growth of the Bitcoin rate has pulled other cryptocurrencies along with it, but the situation related to the use of video cards for mining remains calm.

After Ethereum’s transition to the Proof-of-Stake model, which makes it impossible to use GPUs for cryptocurrency mining, there are no prerequisites for a new wave of excitement in the video card market. However, there remains the possibility of growth of one of the altcoins, which could theoretically change this dynamic in the future.

In April 2024, the Bitcoin cryptocurrency network saw a decrease in the reward for finding a block, called a halving. This process is repeated every 210,000 blocks, approximately once every four years, and regulates the issuance of cryptocurrency. As a result of the fourth halving, the reward for holding a block on the Bitcoin network was halved, from 6.25 BTC to 3.125 BTC.

In the past, similar events were accompanied by the growth of the Bitcoin rate, which reached new historical highs. This time, the rate reached a new record even before the reward cut, and is currently around $64,000, although the all-time high of $73,800 was recorded in the middle of last month.

Other cryptocurrencies have also shown gains in recent months, but Ethereum, especially valuable to gamers and PC enthusiasts, has failed to stand out among them. This alternative cryptocurrency asset became the main cause of the “cryptocurrency boom” a few years ago, when its miners literally robbed stores, buying almost all available video card models and raising their retail prices by two or three times. Nowadays, mining on video cards has become less profitable than before.