GPU Prices Fall Following Slump In Cryptocurrency Markets
The price of specific graphic processing units (GPUs) has been declining alongside prices going down in digital currency markets, Computerworld announced July 10.
While toward the end of 2017 and start of 2018 cryptocurrency mining caused a sharp ascent in the price cap of the gaming cards, the tendency appears to have turned around as crypto markets proceed on a descending slope.
Add in board (AIB) prices are supposedly falling and supplies expanding in the midst of a serious drop in cryptocurrency prices. Robert Dow, Manager of digital media at Jon Peddie Research C. disclosed to Computerworld that they anticipated the drop, including that “the cost to run the mining rigs is not insignificant, so when the price for the currencies drop… people will run rigs and choose to dump AIBs on the secondary market hoping to recover some cost.”
A study directed by Jon Peddie Research uncovered that crypto miners acquired more than 3 million AIBs to the tune of $776 million in 2017, where the majority of them had been created by semiconductor and computer microprocessors manufacturer AMD. Toward the end of 2017 and the start of the present year, many high-end expansion boards were sold out, prompting a price increment.
According to Computerworld, in April AMD’s OEM 4GB RX 580 six-pack was sold out at the price of $3,600, while today it is accessible for $2,500. A Nvidia GeForce GTX 1080 Founders Edition, 8GB GDDR5X PCI Express 3.0 Graphics Card was sold out at a price tag of $1,050, however, now can be bought for $709. Dow commented on the changes:
“We also suspect that Nvidia and AMD have some built up inventory, and that will affect ASPs as well. Prior to the surge in buying of AIBs for cryptocurrency mining, AIB prices were flat to declining slightly which is a trend that will continue at least until new families of cards are introduced.”
The recent price slump has not stopped producers from releasing new cryptocurrency mining hardware. In May, U.S. hardware manufacturer ASUS declared the arrival of its “second generation” cryptocurrency mining motherboard, which is booked to launch toward the start of the second from last quarter of 2018.
In April, Chinese tech giant Bitmain reported the arrival of an Ethash ASIC miner, calling it the “world’s most powerful and efficient EtHash ASIC miner.” Bitmain outperformed the U.S. GPU manufacturer Nvidia as far as general benefits in 2017, earning an expected $3-4 billion and taking 70-80 percent of the market for Bitcoin (BTC) miners and ASICs.
