The price of second-hand NVIDIA GPUs falls due to crypto mining

The price of second-hand NVIDIA GPUs falls due to crypto mining

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We have a busy day today when it comes to crypto mining and the PC component market. We recently saw a report indicating a reduction in demand for the number of wafers already an NVIDIA that reduced the production of its graphics RTX 40. Now we add to the mix a crash of the prices of the NVIDIA graphics in up to a fifty% in the market of second hand.

Surely you will remember how complicated it was to find stock of NVIDIA graphics RTX 30 Series, where it was necessary to use bots or follow listings that indicated graphics available for sale. And less talk about their prices, in the vast majority of cases highly inflated compared to its official cost. But those times are past Bitcoin and the ethereum they are no longer worth €55,000 Y €4,500 respectively, but practically quarter of that, and in the case of the latest crypto, its value is directly tied to the price of GPUs.

The second-hand NVIDIA RTX 3080 on EBay are sold at 50% of their price

Many people have lost (and others have gained) huge amounts of money in cryptocurrencies, both through trading and mining. However, the paradigm in the crypto mining market has been completely inverted, going from a large demand to a great offer. Great in quantity, not precisely in quality, since most NVIDIA GPUs on the second-hand market have been used for undermine.

And, as we know, under controlled circumstances, with temperatures of VRM restrained and undervolt, graphics cards can hold up in better condition. But of course, here we do not know the history and context of its use, where the seller himself can lie to us and try to sell us something that does not fulfill what was promised. To this, we must add that crypto miners are selling all their stock before they lose even more value.

“People don’t want to buy GPUs knowing they’re potentially going to be obsolete in two quarters,” he said. tristan gerraan analyst at Robert W. Baird & Co.

Thus, we see a direct relationship between the drop in the price of Ethereum and the price of NVIDIA GPUs in the second-hand market. Therefore, we find ourselves in a situation, where graphics cards are observed NVIDIA RTX 3080 second hand in eBay with prices between 600 Y 700 dollars. Taking into account the overprice of the same, this supposes a reduction of almost the half of its price just ago 2 months.

NVIDIA has had several falls on the stock market for cryptocurrencies

NVIDIA Cryptocurrencies Stock Exchange

Here we see, how closely linked the income of the Santa Clara company is with crypto mining. And it is that, at the end of 2018NVIDIA came to see their Actions in bag drop a twenty% in just 2 days, after the crypto crash. To avoid it again, he made gaming GPUs, GeForcewere less effective in mining and, later, with the inclusion of LHR on the RTX 3000.

But this did not exempt the company from receiving criticism and even fines, such as the Securities Market Commission what did you ask for $5.5 million to NVIDIA for not disclosing the exact impact of crypto mining on its graphics card sales. Meanwhile, sales of new crypto products of the company have decreased to such an extent that in February they only constituted the 1% of its total sales, with $24 million.

Given this, the company must adopt another approach and accept that the crypto mining market is not what it used to be. And all this, when Gerra estimates that from the boom of cryptocurrencies, the 35% of all graphics cards were bought by miners. This is a huge amount of NVIDIA graphics cards, which will go to the second-hand market as long as the situation does not change.

Even so, Jensen Huang, CEO of NVIDIA, remains positive, as he has said that demand for its GPUs remains strong, thanks to customers in the gaming sector, data centers and artificial intelligence. Something that we cannot deny, since the income NVIDIA totals have grown by more than a fifty% in the last 2 years.

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