The rapid depreciation of cryptocurrencies, but also the rise in prices of oil, electricity and other goods, as well as the decrease in demand for computer components, led to a sharp drop in the prices of video cards. There is no certainty that the situation will change in the coming weeks and months.

Prices for video cards on the Russian retail market continue to decline (here, the strengthening of the ruble also affects), but in other markets there is a much sharper collapse. For example, just look at photos or streams from Asia, where eCafe (Internet cafes with a computer game room) are trying to sell video cards by the hundreds or even thousands.

In some places, eCafe stopped the traditional function completely due to the coronavirus pandemic and used their systems for Ethereum mining. Even after the removal of many covid restrictions, some Chinese regions continued to impose lockdowns or limited the format of such establishments, which put an end to the business model of popular eCafe in Asia. And mining has become a key factor in making a profit or even survival. But in the current times of falling cryptocurrencies and rising prices for electricity, mining is profitable only in the long term, but it is very difficult to predict further development here.

On the Chinese social network Baidu, there are more and more screenshots from the streams, which show the sale of “hardware” from eCafe.

Therefore, the secondary market for video cards is changing a lot, and not only in China. In Russia, more and more attractive offers appear on ad platforms. If you need new video cards, then today you can buy them at very attractive prices, sometimes below the recommended ones.

In the second half of the year, the Ethereum network will move from Proof of Work (PoW) to Proof of Stake (PoS). As a result of the fork, part of the network will remain on PoW, but the GPU era ends there too. Another sign that miners are losing interest in donating their computing power is showing up in the hash rate of the network. According to Etherscan.io, the hashrate has dropped from 1,120 GH/s to 950 GH/s since mid-May, the first time since May last year, when the hash rate briefly dropped from 600 to 500 GH/s, but then continued to rise.

The coming weeks will show where the market will go. So far, sales of video cards are felt much stronger in China than in Russia.


 

Original Source