Very different was what happened for much of 2021. With crypto assets at all-time highs, the mining process required the purchase of graphics cards, which rose in price due to increased demand and their stock levels faltered at times.
A phenomenon that had been growing since 2017 and that has now begun to come to an end. However, so far this year both Bitcoin and Ethereum have lost more than half of their value, putting the mining business in crisis.
The mass sale of cards is being reflected especially in China, a country in which miners took advantage of cheaper prices for their electricity. This is pointed out by the Twitter account ‘I_Leak_VN’ where massive sales are shown in Xianyu, a second-hand market similar to ebay.
The sale offers include several RTX 3080 graphics cards from Nvidia at a price of 3,500 yuan (496.60 euros). This figure is even less than the 759 euros it costs on the official Nvidia website, where it appears out of stock.
Other miners are also turning to reselling via streaming to get rid of more of these cards with a single live stream. The prices of these graphics cards, which in this case are Nvidia’s RTX 3060, range between 285 and 332 euros, figures below the 439 euros of their official sale price.
Source: Ambito
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