The Chinese government's move to ban cryptocurrencies is already showing its effects. In addition to the devaluation of bitcoin, now crypto miners have also started selling their unused graphics cards.
Reported by PC Gamer, an advertisement shows a crypto miner in China selling Nvidia and AMD graphics cards in large quantities. The graphics cards sold are also classified as new products, such as the RTX 3000 series from Nvidia and the Radeon RX 6000 from AMD.
Although there are also some older series graphics cards such as GTX 10xx series and Radeon RX 400. But what is clear is that these graphics cards are sold at a relatively normal price, not piling up much more than the original price.
For example, a used RTX 3070 sells for around USD 400. Even in new condition on eBay, this range of graphics cards usually sell for a minimum of USD 900.
Then the RTX 3060 and 3060 Ti are sold for USD 244 and USD 309.
Of course, graphics cards sold by crypto miners have their own terms and conditions. First, graphics cards are sold in large quantities, aka very large quantities.
Then secondly and most importantly, the previous graphics card must be exhausted. Because the graphics card used to mine cryptocurrency runs at 100% 24/7, for a long time.
It was previously reported that the demand for graphics cards in China has decreased after the Chinese government diligently cracked down on cryptocurrency mining sites.
Currently China is the supplier of 70% of global cryptocurrencies. In Q1 2021 there were approximately 700,000 (25% of total worldwide shipments) graphics cards sold in China to crypto miners.
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NEWS & FACT
