GPUs began to fall in price amid falling ETH

Graphics processors (GPUs) began to gradually fall in price against the background of a decrease in the rate of ether and the complexity of its mining. However, GPUs are still priced at nearly double their MSRP.

In July, the cost of GPUs for popular graphics cards dropped slightly compared to June. This is due to the ongoing downturn in the cryptocurrency market. Ether traded above $ 4,000 in May, but its return below $ 2,000 significantly affected the profitability of mining ETH.

By
data BitInfoCharts, the profitability of mining ether fell by about 80% from the May 2021 high. The difficulty of mining ETH has decreased by almost 8%, so interest in mining using GPUs is also gradually decreasing. Together, these factors “push” users to buy GPUs designed not for cryptocurrency miners, but for gamers.

Previously, an increase in demand from altcoin miners led to an increase in GPU prices. As a result, tech giant Nvidia was forced to cap the hashrate of its RTX 3060 graphics cards in order to save them for gamers. However, Nvidia did not immediately cope with this task.

According to
data TechSpot, in June, GPU price increases are down 16% on average from the manufacturer’s suggested retail price (MSRP). In the middle of this month, the price of some GPUs ranges from $ 200- $ 500. However, despite the decline in their cost, the price of many GPUs is still well above the MSRP – an average of 92%. For example, the GeForce RTX 3060 Ti retails for $ 1,012 and is 153% higher than the $ 400 MSRP.

In fact, GPUs still sell for twice as much, making them “out of reach” for non-cryptocurrency users. This applies to both new and used equipment. However, on Chinese e-commerce sites, Nvidia GPUs have been selling much cheaper due to mining bans in almost all provinces in China.