Israeli Scholar's Paper: Large Volatility Increases ASIC Value

According to, Aviv Yaish, a doctoral student in computer science at the Hebrew University, and Aviv Zohar, an associate professor in the School of Engineering and Computer Science, jointly published the paper "Right pricing for ASICs for cryptocurrency mining." The article points out that because most miners only consider the expected return, the impact of risk and volatility is usually ignored, leading to the mispricing of ASICs used for cryptocurrency mining. To this end, the two authors used an option pricing tool to price the ASIC and compared the results with historical market prices. Finally, it is concluded that, contrary to the general view that if cryptocurrencies are highly volatile, the value of ASICs will decrease, and volatility will greatly increase the value of ASICs. This means that if the token volatility is reduced, some miners may leave, affecting the security of the entire network.