Good time to mine Ethereum? GPU prices fell in February
Video cards (GPU), the electronic devices used to mine cryptocurrencies such as ether (ETH), reported a drop in their prices during the month of February. This is positive news for those who want to get into the business, although they are still traded at high prices, based on the fact that many are high-end or came onto the market very recently.
According to eBay prices, one of the main e-commerce pages in Spain, there is a downward trend in the price of these equipment. There is talk of an 11% drop in the costs of this hardware, generally used by the community gamer and the mining community (including video editors and designers).
However, GPUs continue to sell for prices in excess of $1,000 in many cases. The good thing is that the year is just beginning and there is a drop that could be used by new miners.
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This drop, which dates back several months, comes after GPUs reached quite inflated prices, something that began along with the start of the COVID-19 pandemic. At that time, manufacturers faced limitations to operate, which raised the cost of their products.
The minimum drop was 6.7% and the maximum up to 15.5%
But the story begins to change. For example, and in the unique case of the cards offered by Nvidia, one of the largest manufacturers of this type of equipment, most GPUs reported lower prices. The minimum drop was 6.7% and the maximum up to 15.5%, according to what was compiled by Tom’s Hardware.
In detail, the GeForce RTX 3090 GPU was trading at USD 2,341 in February, a difference of -10.2% compared to the price in January, when it was sold at USD 2,609.
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In another similar example, the GeForce RTX 3080 went from $1,613 in January to $1,440 in February, a 10.7% drop in price. The GeForce RTX 3070 card, meanwhile, hit $988 in February, after hitting $1,086 in January, eBay shows.
The one with the biggest drop was the GeForce RTX 3050, which went from USD 539 to USD 455. A drop of 15.5% for the GPU that was released on January 27 of this year.
The interesting thing is that most of Nvidia’s video cards reported declining graphics during the month of February. The rest, from other brands, had variable behavior. However, the most sought after GPUs, according to the study of that medium, are the RTX 3080 and the RTX 3060, from the company based in Santa Clara, California, United States.
Unlikely to know the behavior of the GPUs during the year
Knowing the behavior that the GPUs will have during the rest of the year is unlikely, since video card costs vary based on many factorssuch as the video game market, the cryptocurrency market, the pandemic and other elements that influence these prices.
In addition, problems with supply chains remain, something that could be exacerbated (albeit to a small extent) with the ongoing war between Ukraine and Russia, countries where the materials needed to manufacture this type of electronic equipment are usually produced.
Not compliant, and as CriptoNoticias reported in recent days, an outbreak of the omicron variant of COVID-19 alarmed GPU manufacturing, as it would have affected the supply of PMIC chips, necessary for the production of cryptocurrency mining hardware.
In any case, it is plausible that this year the price of GPUs will remain in constant variability. Seen it in just two months seems to point to greater access to these productsalthough relativity enters fully there.
