The Chinese video cards market decreased against the merger of the Ethereum – Bits Media

Ethereum transition to the Proof-OF-Stake algorithm (PoS) provoked a drop in prices for graphic processors (GPU) In China - their sales have reached the lowest level in history.

Low demand from Chinese miners, previously bought expensive video cards, such as Nvidia GeForce RTX 3080, RTX 3080 The или RTX 3090, Forced suppliers to reduce the prices for GPU three times.

Seller from Shanghai Pan reported, that the most expensive GPU over the past three months have fallen in price more than 37% - with 8 000 yuan ($1 140) to 5 000 yuan ($712). According to him, Reducing demand and prices for video cards is associated with the fall of the cryptocurrency market, prohibiting mining in China and new restrictions due to Covid-19.

“When a wave of mining bitcoins was at a peak, miners bought up all video cards, which were in our store, for cash. Now almost no one is buying new computers and video cards because of coronavirus ", - said Pan.

His colleague Liu confirmed, that the merger of the Ethereum was a "trigger" for collapse of GPU prices. According to him, In the past two months, even the most inexpensive video cards for mining have fallen in price more than 50%, Including in the secondary market.

“I had a client, who bought a video card RTX 3080 for 9 400 yuan ($1 320) at the end of last year, And now he has to sell it in less than half of this price. ", He added.

Buynow's large Shanghai retailer as a result of correction of the video cards market and the crisis in the cryptocurrency market reduced the recommended retail price for graphic processors more than 33%.

In anticipation of the merger of the Ethereum, the prices for graphic cards fell on average on 10%. Although this "collapse" can lead to the closure of many online stores, For buyers, not related to mining, This is the end of a two -year -old nightmare, когда розничные продавцы максимально подняли и держали цены на GPU из-за высокого спроса со стороны майнеров.

However, many miners, previously specialized in the production of the air, Looking for alternatives. At the beginning of the month, the Hive Blockchain mining company began testing its equipment for the extraction of various cryptocurrencies. The company reported, what is looking for an ether to replace, It became impossible to extract which after the transition to POS.