Ethereum's rise causes a surge in GPU prices for gamers

The price of Nvidia graphics cards rose 18% in China as Ethereum

prices returned to near-record levels. Sponsored Sponsored

According to

a

report by MyDrivers, Nvidia graphics cards

used for cryptocurrency mining are out of stock in China and their prices are soaring. This is bad news for both gamers who rely on high-quality gaming cards and cryptocurrency miners.

The price increase coincides with a jump in Ethereum prices over the past few weeks. This comes after GPU prices hit a low point in July. The price of ETH

has risen by more than 25% over the past week. From around $3,100 to $3,934 at the time of writing this report. Sponsored Sponsored The

report states that Ethereum mining profits

have

nearly doubled since the beginning of August.

Ethereum price boosts mining interest

Now that Ethereum has returned to the $4,000 range, mining is on the rise, and as a result, GPU prices are rising again. GPUs from Nvidia, as well as AMD and others, saw their prices drop during the market hiatus earlier this year.

GPU prices dropped from around the 300% mark to less than 150% during that period. However, as the market grows, GPUs are back in high demand

. In particular, global supply of Nvidia RTX 30 cards, AMD 6000 cards – and even ASUS graphics cards will be an issue going forward.

The report says that the RTX 3070 Ti GPU has suffered the most. Its price has risen by almost $100 in the last week and it’s getting harder to find. RTX 3080 and RTX 3070 units have become more than $60 more expensive, and other series have seen price increases ranging from $20 to $50. Even older generations of chips are seeing a price jump these days.

The price increase represents a jump of 15% to 20% in a relatively short period of time. The report adds that price increases for some cards don’t make sense. They are so old that they are barely suitable for cryptocurrency mining. This really pretty much illustrates the desperation with which people are now approaching these GPUs.

And this problem is not isolated to China alone. The prices of these cards will continue to rise around the world and become harder and harder to find. The market should be fueled by new GPUs or the emergence of alternative options. German company 3DCenter, which tracks GPU prices, op

ublished a charton Twitter showing that Nvidia’s card margins in Germany increased by 9% from August 8 to September 4.

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