The Merge of Ethereum finally happened and this led to some changes in the ecosystem. One of them has to do with video cards or GPUs that, since they are not necessary for mining on said network, begin to overpopulate the market.
With Ethereum already working with proof of stake (Proof of Stake or PoS), the outlook for Ethereum miners presents two alternatives. As explained in CriptoNoticias, on the one hand, they can choose to mine another cryptocurrency. If it is not done, the only way out is to say goodbye to your teams and sell them.
In the hours following Merge, it seems that several have opted for this second option. In the Amazon marketplace, many GPU offers can already be found that used to be most used to mine Ethereum.
One of them is Nvidia’s “star” model, the RTX 3090, offered with a discount of 38% of its previous value, at $1,079. There are also other sellers that offer them at slightly higher prices, with discounts close to 10%.
Similarly, the Nvidia RTX 3080 can be purchased with discounts of up to 25% to USD 939. There is even the possibility of acquiring it with a 43% discount from its previous price, at USD 864. An inferior model of the same brand, the RTX 3070is also on sale at 17%, with a price of USD 619.
Starts on bear market of Ethereum miners GPUs
Apart from Nvidia, the products of the other main manufacturer of the graphics card market, AMD, are also beginning to experience this oversupply. your model Radeon RX 6800 can be found on sale of 35% and of 26% in the same marketplace already mentioned.
growth in GPU supply might affect the market so much primary (new equipment) and secondary (used equipment). In both cases, the arrival of vendors will allow demand to be met more easily, which will drive down equipment prices.
The situation might spread in the coming days. In fact, it is a phenomenon that already was perceived since June this year, and increases with the arrival of the Mergewhich left many miners unable to continue their activity and willing to sell their equipment.