Cryptocurrency miners in China are begin to sell off GPUs for cheap
According to a screenshot from a mining group posted to PTT, a popular Taiwanese bulletin board, miners in China are selling off a large number of Nvidia and AMD GPUs (via HKEPC). These include the latest 30-series or 6000-series, but also other older GPU generations, such as AMD's cheap and cheerful Polaris generation.
Card prices aren't massively inflated, either. HKEPC reports that an RTX 3070, sold in there hundreds and thus potentially cheaper for it, will cost roughly $3,120 HKD (Hong Kong Dollar) each. That's a little over $400 US.
Since these cards are being sold in bulk, it may be that the sellers are hoping cryptocurrency miners elsewhere will take them up on the offer. Regardless, gamers will likely want to steer clear.
The fact these graphics cards have been used to mine crypto should comes as a red flag for would be purchasers: you probably don't want a graphics card that's been on 24 hours a day, seven days a week, and at high temperatures for your next gaming PC.
The mere fact these cards are being put on sale could be indicative of a larger slide in cryptocurrency profitability, or viability, in China. The country currently has the world's highest hash rate, meaning it mines more crypto than anyone else, but recent crackdowns on mining by both China's financial and local authorities may have some looking to move on or even elsewhere.
There are a few other signs of a potential turning of the tides for GPU mining, most of all in China: GPU prices are dropping, ASRock says demand is easing, and Ethereum is moving to proof-of-stake which may also accelerate the whole process. Then there's Nvidia's hash rate limiter, sure to be of more concern to miners if profitability swings down further than it already has this year.
We can't say for sure what's going to happen, though. This could be a small blip, a temporary lull for today's biggest cryptos. Even Ethereum or Bitcoin's 'low' value today is far in excess of what it was just in January of this year.
Basically this certainly isn't the end of cryptocurrency, and we're definitely not out of the woods yet.
Posted:
Related Forum: PC Building Forum
Source: https://www.pcgamer.com/uk/cryptocurrency-miners-in-china-are-beginning-to-sell-off-gpus-for-cheap/
Related Articles
Comments
Latest Downloads
- 01. Pac-Man Championship Edition (Xbox 360)(0)
- 02. Crash Of The Titans (Xbox 360 - Game Save 93% complete)(0)
- 03. Titan Quest - Anniversary Edition: SaveGame (Level 85 caster)(0)
- 04. [EU] Space Roguelike Adventure (Insta-Plat Save) [CUSA35362](2)
- 05. Operation: Matriarchy - SaveGame (The Game done on hard difficulty) [1.0](1)
- 06. LEGO Star Wars: The Skywalker Saga - SaveGame (The game done 100%) [Steam](2)
- 07. Through the Woods: SaveGame (The Game done 100%) [Steam](1)
- 08. Humans are not that against Lizardwomen: SaveGame (The Game done 100%)(1)
- 09. Tekken 1 100% save game file for Retroarch US version(0)
- 10. The Expanse: A Telltale Series - SaveGame (all chapters are opened, trophies are unlocked)(1)
- 11. Need for Speed: Most Wanted (2005) - SaveGame (Good start, 6 cars) [1.0](1)
- 12. Commandos: Strike Force - SaveGame(1)
- 13. Mario Party 2 100% Complete Save(4)
- 14. Mario Party 2 (Virtual Console) Save(0)
- 15. My Summer Car: SaveGame (Satsuma blue moon)(0)
Latest Tutorials
- 01. The Redress Of Mira 100% Walkthrough | Trophy & Achievement(790)
- 02. Russian Pinocchio Quick Trophy Guide(1,052)
- 03. Venatrix Quick Trophy & Achievement Guide(1,138)
- 04. Call of the Sea 100% Platinum Walkthrough(1,073)
- 05. Wire Lips 100% Platinum Walkthrough(1,170)
- 06. The Expanse 100% Platinum Walkthrough | Trophy & Achievement(1,021)
- 07. Doctor Who: The Edge of Reality - PS4 Platinum P/Thru(950)
- 08. Doctor Who:The Lonely Assassins - 100% Guide(804)
- 09. DAYMARE 1998 PS4 - Full game 100% TROPHY WALKTHROUGH(847)
- 10. Stray Platinum Walkthrough | Trophy & Achievement Guide(798)
- 11. Raji: An Ancient Epic | Complete Gameplay Walkthrough(1,082)
- 12. Corpse Killer: 25th Anniversary Edition - Longplay(1,054)
- 13. Song of Horror: Complete Edition Gameplay Walkthrough(747)
- 14. Remoteness 100% All Trophies Walkthrough(1,175)
- 15. Detective Inspector Mysterious Clues Platinum Walkthrough(873)
"Cryptocurrency miners in China are begin to sell off GPUs for cheap" :: Login/Create an Account :: 1 comment