August 14, 2022

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video cards |  Cryptocurrencies |  Cryptocurrency miners are reselling their graphics cards at undervalued prices |  Spain |  Mexico |  USA |  technology

video cards | Cryptocurrencies | Cryptocurrency miners are reselling their graphics cards at undervalued prices | Spain | Mexico | USA | technology

Cryptocurrency miners have begun auctioning off their coins (GPU) after a sharp decline in the value of this asset class in recent months.

The rise of cryptocurrencies has also reached countries such as Spain. 6.8% of its residents have admitted that they have at some time invested in these assets, Although only 4.2 percent continue to do so, according to the latest report from the National Securities Exchange Commission (CNMV).

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The right time for cryptocurrency In most of 2021 The mining process fueled, therefore, Buying graphics cards whose prices have increased due to the increased demand for them Its stock levels have sometimes faltered. A phenomenon that has been growing since 2017 and now appears to be coming to an end.

The downtrend in cryptocurrencies such as Bitcoin and Ethereum has been pinned down since November 2021 after starring in a ‘high’ that lifted them to record highs. However, so far this year they have lost more than half of their value.

The strong decline of cryptocurrencies led to a decline in graphics cards, Miners use their power and ability to perform complex calculations to amplify profits in mining these assets. The better the machine and graphics, the greater the benefits.

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Their wholesale is particularly reflected in China, A country where miners have benefited from cheaper electricity prices. This is what the Twitter account “I_Leak_VN” indicates, reflecting this phenomenon, from sales that have begun to appear in Xianyu, an eBay-like flea market.

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Sale offers include several Nvidia RTX 3080 graphics cards at a price 496.60 euros. This figure contrasts with the €759 it cost on Nvidia’s official website, where it appears to be unavailable.

Other miners are also turning to streaming reselling to get rid of more of these cards with a single live stream, according to a post by Baidu, Google’s Chinese equivalent.

The prices of these graphics cards are in this case The price of Nvidia’s RTX 3060 ranges between €285 and €332, figures lower than the official selling price of €439.