As the cryptocurrency market currently goes through one of its worst nosedives in recent years, miners are trying to get rid of their mining hardware. Due to the crashing prices of popular crypto coins, numerous Chinese miners and e-cafes are flooding the market with graphics cards they no longer need.
Miners, e-cafes, and scalpers are now trying to sell their hardware stock on streams and auctions. As a result, users can snag a second-hand GPU, such as the RTX 3060 Ti, for $350 or even less. Many popular graphics cards going for MSRP or even less is quite a sight to behold after astronomically high prices and scarce availability during the last two years.
GPU flood is here.
Chinese miners and South Asian ecafes now dismantling their mining rigs and putting cards up for auction on livestreams.
3060 Ti’s going for $300-$350 US … pic.twitter.com/kphmIt7vZw
— Hassan Mujtaba (@hms1193) June 21, 2022
As tempting as it might be to snag a powerful Nvidia or AMD GPU for a price lower than its MSRP, it is not the best idea to go after a graphics card that went through seven rings of mining hell. Potential buyers should be aware that the mining GPUs are often not in their best conditions after spending months in always-on, always-100% mode.
With manufacturers increasing their supply and prices going down like never before, you may better spend a little more and get a new graphics card with a warranty and peace of mind. As a bonus, you can enjoy the view of scalpers getting desperate to get at least some money from their stock.
Source: Miners flood market with GPUs they no longer need as cryptocurrencies crash – Neowin