Used GPUs Flood Market as Ethereum’s Price Crashes Below $150

July 17th, 2017

Awake Goy

Used GPUs Flood Market as Ethereum’s Price Crashes Below $150

July 16th, 2017

Iâ€™m hoping to buy a used GTX 1070 for my sonâ€™s 10th birthday in November. Will there be a flood of cheap GTX 1070s on eBay by then?

Via: OC3D:

Over the past few months, there has been a GPU shortage, forcing the prices of mid-range graphics cards up as cryptocurrency miners from across the world purchased hardware in bulk in search for quick and easy profits.

This has forced the prices of most modern AMD and certain Nvidia GPUs to skyrocket, but now these GPUs are starting to saturate the used market as more and more Ethereum miners sell up and quit mining. Some other miners are starting to look at other emerging Cryptocurrencies, though it is clear that the hype behind Ethereum is dying down.

Earlier this week Ethereum’s value dropped below $200, as soon as the currency experienced a new difficulty spike, making the currency 20% harder to mine and significantly less profitable. This combined with its decrease in value has made mining Ethereum unprofitable for many miners, especially in regions with higher than average electricity costs.

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On second-hand sales websites like eBay and Gumtree, we have seen a lot of new GPU listing appear in recent days, with plenty of used AMD RX series GPUs appearing over the weekend. More hardware is expected to hit these sites over the coming days as some miners wind down their operations…

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