Crypto Crash Brings GPU Prices Down
Miners are increasingly selling their graphics cards on the used market after the value of the Ethereum and Bitcoin cryptocurrencies fell by 30 to 40%. As a result, prices fell further in June, and several GPUs are now available at retail locations as well as on eBay for less than the RRP.
Before the following GPU generations, such as the Geforce RTX 4000, Radeon RX 7000, or Arc Alchemist, are released this year, earlier graphics cards are now available at more reasonable costs, and in many cases, below the RRP.
So far, 2022 has been the year of progressively affordable graphics cards. However, the recent 30-40% drop in the value of the cryptocurrencies Ethereum and Bitcoin offered a big boost once again, as miners are again selling their graphics cards in droves.
Meanwhile, they're flooding the used market with mining cards that, according to Tom's Hardware, were already available in 2018. They claim that due to a significant oversupply, AMD's then-popular Polaris cards RX 570 and RX 580 were available at affordable costs.
Many miners are unwilling to wait for bitcoin to recover and hence want to sell their equipment as soon as possible since profitability and return on investment continues to decline with time. Since June, Tom's Hardware has conducted a market analysis that compares retail and eBay prices to the MSRPs of each graphics card.
According to the data, the price of several graphics cards is gradually going below their RRP. This is especially obvious with AMD's Radeon RX 6000 graphics cards.
The Ampere GPUs from Nvidia's upper mid-range class remain obstinate, although certain models are nevertheless forced to concede defeat on eBay. According to Toms Hardware, retail graphics card costs have dropped by an average of 2% in the last two weeks.
eBay is a very different story. Within two weeks, one might expect an average price reduction of roughly 10%. Tom's Hardware, on the other hand, lists the "Buy It Now" pricing on eBay, for which no bids are required and which indicates the respective lowest price. Finally, these bring Ampere GPUs in the high middle class to their knees.
It's even been reported that merchants are offering six Geforce RTX 3080 cards in a box for $2,500. This means that one of the cards would cost roughly $417 USD, which is a steal.
However, this is an extreme example of what the GPU market will look like in the following weeks. It will also be interesting to see how Intel's first desktop solution, the Arc A380, which has already been released in China, positions itself in the market.
Post by - Bryan C.