In temporary: As cryptocurrency costs proceed to fall and Bitcoin as soon as once more drops under the $20,000 mark, cryptomining is turning into more and more much less worthwhile—and that is excellent news for players seeking to seize a second-hand GPU. According to a latest report, costs of used graphics playing cards have crashed as a lot as 50% in latest months.
The crypto market is not exhibiting any indicators of enhancing, barring a brief uptick over the weekend that noticed markets briefly cross $1 trillion. That’s unhealthy information for buyers, crypto firms, and North Korea however excellent news for these seeking to purchase a used graphics card, particularly as Ethereum’s upcoming swap from proof-of-work to proof-of-stake, aka The Merge, goes to push costs down even additional.
Bloomberg estimates that greater than a 3rd of the patron graphics card market might vanish as cryptominers resolve that their money-making interest simply is not price it anymore. The publication estimates that 35% of client graphics playing cards had been purchased by miners in the course of the run-up to the crypto growth late final yr when Bitcoin reached its top of $68,000, and we’re now seeing quite a lot of these playing cards find yourself on second-hand websites equivalent to eBay. Some of them are going for lower than half the worth that sellers requested just a few months in the past.
The report displays our personal GPU availability and pricing replace. The RTX 3090 Ti, which was going for a mean of $2,000 on eBay in April, can now be discovered for $1,650, whereas the RTX 3080 10GB has dropped from $1,000 to $770 in the previous few months.
It’s not simply second-hand playing cards which are seeing worth reductions; new GPUs are additionally getting nearer to and generally lower than MSRP. It’s led to a fall in motherboard gross sales as individuals cease shopping for mobos only for the bundled card, EVGA beginning to shutter its digital queue system, and Nvidia reportedly killing off the RTX 3080 12GB mannequin.
There are sometimes considerations when shopping for a second-hand graphics card that was used 24/7 for mining functions. And whereas these worriers may be justified, the playing cards typically have not taken the type of efficiency hit you may anticipate.