GPUs Are Finally Getting Cheaper Ahead of Ethereum’s Merge
With Ethereum’s upcoming switch from proof-of-work (PoW) to proof-of-stake (PoS), miners no longer have valid reasons to expand their ETH mining operations. While miners are still actively keeping the network alive through mining transactions, the expansion halt is finally starting to normalize the GPU market.
The most popular GPUs such as Nvidia’s Geforce RTX 30 series and AMD’s 6000 series still tend to sell out of their base models (founders editions) very quickly. Likely due to the significantly lower prices than other models of the chips.
For example the Geforce RTX 3090 Founders Editions has an MSRP (Manufacturers suggested retail price) of $1500. Other models of the 3090 chip are more expensive due to better cooling units and go up to $2500.
GPUs (Graphics processing units) are responsible for computing the graphics end of computers but are also the main component that allows for the mining of certain cryptocurrencies. Ethereum has been the top choice for GPU mining, as Bitcoin mining difficulty has soared so high that it is impossible for any regular individuals to participate. There are other cryptocurrencies/altcoins that can still be mined with GPUs, such as ETC (Ethereum Classic) and RVN (Ravencoin). Among the coins capable of being mined through GPUs, Ethereum is the highest in price and provided the highest mining returns.
“The price of 10 major GPU models dropped by 74% in January, 9.5% in February, and 12% in March. Crypto mining accounts for about 35% of the consumer demand for GPUs globally.”
