Miners are selling their Graphics cards since they are no longer profitable (enough) to mine with, with Bitcoin and Ethereum losing 30% to 40% of their value in just a week.
This presents a new problem for board partners who already have an excess of GeForce RTX 30 and Radeon RX 6000 graphics cards, but it also gives gamers a lot more options when it comes to purchasing new graphics cards.
According to Tom’s Hardware, this is the point at which the retail and used markets collide, resulting in a massive rise in graphics cards, similar to what we saw last year. Although it is still too early to predict how the market will respond in the long term to the crypto catastrophe, many miners are not willing to wait for Bitcoin to rebound. Profitability and ROI (return on investment) is diminishing by the hour for some miners who purchased the cards at a much higher price. They don’t have any other option but to sell their cards right now.
According to Tom’s Hardware’s GPU market survey, a growing number of cards are becoming ‘green,’ which means dropping below MSRP in this case (suggested retail price). Some cards, particularly in the NVIDIA upper mid-range class, continue to defy price pressure, but the used market may be able to aid.
Retail Graphics card prices have reduced by 2% in just two weeks since the bulk of AMD Radeon RX 6000 series cards has already reached MSRP. They will only get less expensive if AMD decides to announce a price reduction
Rather than waiting for price reductions, many are already selling cards on the used market for less than the MSRP. Prices on eBay have dropped 10% on average in the last two weeks, and this does not include the lowest prices. The lowest price available on eBay that does not require bidding is listed in the “Buy it Now” portion of Tom’s Hardware’s comparison. These prices are, of course, lower than the average price listed in the other columns.
Surprisingly, certain cards can still be purchased for substantially less money. A box of six RTX 3080 cards is being sold for USD 2500 by scalpers, miners, and hobbyists. That means each card costs only $417. They are, however, only a few extreme examples of what you might see in the used market during the next few weeks.
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