Cryptocurrency crash leads to mass sales of graphic cards for mining

Life is not easy for those who are currently investing in the crypto market. The valuation of digital currencies has declined significantly, which is a major concern for all fans in this segment.

According to the latest information, the results are beginning to attract attention as the depreciation of cryptocurrencies has led to the mass sale of graphic cards used to mine these crypto assets.


Sale of used graphic cards for cryptocurrency mining

According to the latest news, the sharp decline in the value of digital currencies, or Ethereum, has made cryptocurrency mining unprofitable because the costs and costs of electricity outweigh the benefits this practice brings to its users.

In this way, miners could not amortize their investment in equipment, and many people bought a "golden price" due to a shortage of parts and started selling graphic cards used for extraction. .. Digital currency. Therefore, in some places, there are already mass sales of these GPUs dedicated to cryptocurrency mining.

Chinese miners are trying to sell mining graphics cards (via Baidu / Hassan Mujtaba)

According to the details revealed, China has more verified this reality, boom From the sale of this device, it was more profitable than it was open to the public, so it began to appear in the same cyber cafe that was closed to become a mining system. But now, in those same places, there are dozens of unused graphics cards left, and they are trying to sell second-hand goods.

Mining GPUs are also sold on auction sites. In one of these cases, the Nvidia GeForce RTX 3060 Ti is sold directly converted at a price of € 285-380. Such a new model costs around 550 euros.

On the other hand, given that Ethereum may move to the Proof of Stake model in August or September, these devices will not be able to take advantage of GPU capabilities for mining.

This is what a dead graphics card looks like with mining cryptocurrencies (read here)

Therefore, it is expected that large-scale sales of these graphic cards will start in other countries such as Portugal as well as China.

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