Business

In a panic, cryptocurrency miners are now selling off hundreds of graphics cards in live streaming

Miners with graphics cards like the GeForce RTX 3080 are currently flooding the market. Hundreds of these are even sold in live streaming.

By now we were almost “used” to the fact that you can pay double the recommended price for graphics cards if you want to use the latest hardware. Meanwhile, computer hardware prices are plummeting.

Now miners are suddenly flooding the market with cheap graphics cards, but what’s exactly behind it?

Suddenly you can buy hundreds of graphics cards in live streaming

What exactly is going on? Some live streaming images are published on the Chinese platform Baidu. Here, you can see hundreds of graphics cards stacked on top of each other, and people can purchase the cards directly from the stream. Pictures show both old models and completely new cards from AMD and Nvidia (via baidu.com)

The prices are below the AMD and Nvidia recommended retail price. So you can get a GeForce RTX 3080 in such a live stream for around 500 euros. It might seem absurd to many, since many official retailers currently still pay at least 900 euros for Nvidia’s high-end graphics card.

But this is not a phenomenon in China: dozens of graphics cards are also available in other countries. PC-Gamer magazine reports that the RX 6700 XT sells for around € 280 each in Australia. In January 2022, you still had to spend at least 900 euros for an RX 6700 XT.

Radeon RX 6700 XT in testing: How AMD compares to the RTX 3070

Bitcoin is losing a lot of value and now miners are selling off their valuable equipment

What’s behind it? Bitcoin’s value has been falling for weeks. Compared to the last 6 months, Bitcoin has lost more than 50% in value. However, many miners have invested a lot of money in their hardware to be able to take part in the mining hype and, more importantly, to be able to keep up.

Now many are trying to at least keep their losses within reasonable limits and are selling their equipment. The reactions in the comments are also not very friendly.

Should You Buy Graphics Cards From Miners? Also in Germany there are now the first offers where miners sell their graphics cards. But is it worth it or do I end up buying the so-called “pig in one hit”? MeinMMO explains the background to you:

Miners are now mass selling really cheap GPUs – should you buy AMD and Nvidia graphics cards now?

About the author

hiyabad

Leave a Comment