An ongoing crash in cryptocurrency prices is causing some miners to abandon ship and sell their racks graphics cards at low prices in an effort to earn some cash back. Wccftech found that some former miners in China and South Asia, previously encouraged by low energy costs, are even organizing livestream auctions to get rid of their GPU stock en masse.
First: ha ha ha ha ha ha ha ha ha ha ha. Second, while it’s amusing to imagine desperate crypto lords hosting some sort of QVC channel for dusty PC components, I wouldn’t necessarily consider this a highly anticipated opportunity to upgrade your graphics card cheaply.
That has nothing to do with the potential health of these cards. Buying used technology is always a bit of a gamble, but research by Linus Tech Tips suggests that even after months of running 24/7, ex-mining cards are only negligibly slower than new models at worst. No, the more obnoxious problem with these GPUs is that they’re just…not that much cheaper than what you can get from your existing, local second-hand market?
take the RTX 3060 Tiwhich miners are in china Reportedly sell for the equivalent of $300-$350 (about £250-£300). Even a cursory glance at eBay reveals multiple listings at broadly similar prices, especially in the US, and while some of these also seem to have escaped mining rigs, the majority appear to be one-off sales from typical private sellers. And they come without the worry of having to import them from the other side of the world as well.
To be blunt, many of the sellers now dumping their GPUs on auction sites are partly to blame for the fact that graphics cards are so expensive in the first place. Shortages of stock also played a part, but if gaming GPUs weren’t gobbled up so quickly, with the goal of extracting environmentally-melting funny money, it’s hard to see them getting anywhere near too expensive. If you are currently looking for a used graphics card, there are plenty of less greedy sellers to hand your money over.
With all that in mind, I think this development is good for PC gaming hardware. The collapse in mining profitability is not only karmically pleasing, but the resulting drop in demand for new GPUs will depress prices at mainstream retailers as well as other second-hand sellers. RPS deals hunter Will has already found several brand new GPUs at post-bottom prices, like this one £330 RTX 3060† It also bodes well for the availability of upcoming releases, such as Intel’s Arc Alchemist cards, the AMD Radeon RX 7000 series and the heavily rumored Nvidia GeForce RTX 4000 series. Assuming these all launch in 2022, they should also cut the price of used RTX 3000/Radeon RX 6000 series cards, so it may even be worth waiting longer if you’re looking for a bargain and don’t mind missing the cards. next gen stuff.