The brake on cryptocurrency mining in China is causing the price of GPUs to fall, and that’s good news here, too.
After the decision to cast the curbing cryptocurrency miningin China the second-hand market has been filled with equipment and accessories that are sold to the kg to move the mining of cryptocurrencies such as the Bitcoin to other countries. So much so that even the new Nvidia GeForce RTX 3070 are selling at a bargain price.
The fall in card prices in the Chinese market
To the notable fall of graphics cards on commercial surfaces, where went from costing more than $2,000 to just $700., now it’s time to add the need for many mining farms to get rid of hundreds of cards as quickly as possible.
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The result, as they collect from HKEPC, is the wholesale of GPUs for prices which, in the case of the same RTX 3070, stay in near 340 euros at the exchange rate. Of course, those who go to the Chinese second-hand market in search of a bargain will have to take into account two key factors.
The first is that everything is sold in packages, so to access the offer you should be willing to buy hundreds of cards of a single slice. You’re going to need a lot of partners if you just want to get one to renew your PC.
The second is to access graphics cards that have been mining cryptocurrencies 24 hours a day and at temperatures of cadiz asphalt in the middle of August, maybe not the best way to get your PC ready. At least if you want to get performance during a good season.
How the change seen in China may affect us
In any case it is good news for anyone looking to access a graphics card, and the decline in demand for new cards will end up affecting their availability, which leaves Nvidia in a more comfortable position to supply properly around the globe.
If you are lucky, that also means a relaxation of its price, so we would move on to a less aggressive resale market and, if this reduction in attention to cryptocurrencies ends up spreading, also that the attention to this type of products by miners will bring demand down on this side of the pond.
In fact we’ve already seen similar moves. A recent study by 3DCenter reflected a downward trend in the price of graphics cards, pointing precisely to that decline in attention to cryptocurrencies.
According to this German study, the need to get rid of a product that could soon fall even further will intensify the price war between retailers to get rid of the stock that until recently was sold well above what was seen at the beginning of the year.