Apparently, today mining does not bring significant profits, so those involved in the production of cryptocurrencies began to massively sell video cards on Avito at a reduced price. Several participants in the cryptocurrency market told Forbes about this.
Miners are rushing to sell their hardware as the world’s most popular cryptocurrency, Bitcoin, is falling. Since the beginning of May, its rate has decreased by more than 40% and currently stands at just over 20 thousand dollars per coin. At the same time, the exchange rate of the ruble against the dollar has greatly strengthened and now stands at 53 rubles. According to one source, the mining market in June decreased by almost five times compared to March-April of this year. Miners with expensive electricity mine cryptocurrency at a loss or, at best, go to zero. Three months ago, due to the heavily collapsed ruble, the profitability from bitcoin soared to a maximum in ruble terms. Now it’s the other way around.
Video cards in June fell in price by about three times compared to March-April. For example, the GeForce RTX 3090 can be bought on Avito for 170 thousand rubles, while in March the maximum price for it was 540 thousand rubles. Although the representative of the announcement service noted that in April, sales of video cards on the site decreased by 7%, and in May – by 3.5% year-on-year. According to the BitRiver analytical company, there are now 3,000 ads for the sale of GeForce RTX 3060 video cards and 731 ads for the sale of the GeForce RTX 3090 on Avito in Russia. These models are considered top among miners.
Experts identify another reason why miners sell video cards. This is the imminent transition of the Ethereum blockchain to the Proof-of-Stake (PoS) mining algorithm instead of Proof-of-Work (PoW). According to the upcoming changes, the number of tokens that the user already owns will be of key importance, which can lead to the decline of mining on video cards.
Source: Trash Box
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