Graphics Cards Prices Steadily Shrinking

22.06.2022 16:29
by Sviatoslav Pinchuk
2 min read

Amidst the crypto winter, the prices of graphics cards (GPU) are steadily decreasing. According to the PC review website Tom’s Hardware, buyers were able to acquire graphics cards for, in total, 15% cheaper prices in May. This continues the trend of similar 10-15% graphics cards’ price decrease in the past several months.

One representative example from the report is the price of the RTX 3080 graphics card. In recent months, it shrank from $1000 to $650 on eBay. In October 2020, the same GPU was selling on eBay for $1,227.

A graphics card or graphics processing unit (GPU) is a computer chip primarily designed for accelerating graphics rendering. However, GPUs are also a sought-after component for mining crypto. While Bitcoin miners mostly use specialized ASIC hardware, other blockchains with the proof-of-work consensus mechanism, including Ethereum, Dogecoin, Monero, and Zcash, can be mined with graphics cards.

The leading graphics card company Nvidia launched a line of chips in February 2021, called the Nvidia CMP. These products were specifically designed for mining crypto. However, the revenue from the CMP line of GPUs plummeted to negligible levels in 2022.

According to Bloomberg, in 2021, miners on Ethereum alone spent more than $15 billion on GPUs. But as Ethereum is transitioning to the proof-of-stake consensus mechanism, miners will have to emigrate to another platform if they wish to continue mining crypto.

Author

  • Man who simply bought some BTC for domestic needs in 2014 and then forgot about it till 2017. The dude who got Etherium in 2017 by misclick and sold it in 2018 "just to try". Lost 1 Florida house in XEM in 2018, Sviatoslav finally decided to trade reasonably and now he is one of the most analytical and data-driven trader in Crypto Industry. Has Bachelor Degree of Chinese Interpreter and deep practical experience in competitive niches SEO.

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