Graphics Card Prices Fall Rapidly With Crypto Plunge

According to the specialized site Toms Hardware, the price of graphics cards fell by 15% in May.

The prices of graphics cards, necessary for mining, are constantly falling. If they had reached the highs of last year, with the two crypto crashes of the past few weeks, they have started to decline.

The specialized site Toms Hardware notes that in May the average price of the best graphics cards for mining fell by 15% and that it has been several consecutive months that prices have fallen by 10 to 15%, with a return of stocks at retailers.

From $1,000 to $650

Before, you had to wait weeks or even months to get them. If we take for example the NVidia GeForce RTX 3080 card, a reference card for miners, we went from 1,000 dollars each a few months ago, to 650 dollars on eBay recently.

In fact, several factors come into play at the same time: the collapse of the price of cryptocurrencies, which intersects with the sharp rise in the energy bill, and that is a key parameter in determining whether the mining activity is commendable compared to the investment. There, we have the worst case scenario with, icing on the cake, certain cryptocurrencies which are changing protocol or blockchain, a technical process to make mining easier, or in some cases more economical in energy and more environmentally friendly.

This is the case of ether, which wants to move from a so-called “proof of work” system to a “proof of stake” system by August. If this change of location, it would create a revolution for the cryptocurrency ecosystem. This will no doubt make it necessary to make a lot of trade-offs in terms of hardware management for miners with new card models that are expected, with the effect of continued pressure on the prices of existing cards.

Antoine Larigaudrie edited by PA.

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