The cryptocurrency bull market has led to frequent shortages of stock in the global graphics card market, and even authoritative media such as CCTV can’t sit still. In the latest issue of CCTV’s financial program, CCTV reported on the chaos of the graphics card industry such as the release of graphics cards such as the air, the price has been doubled in just a few months, and pointed out that the culprit is caused by mining, and the price of graphics cards is still difficult in the short term. Return to the offer price.
According to CCTV reports, the rising cryptocurrency market has led to a general shortage of graphics cards and price increases. Take the RTX 3070 graphics card as an example. The official sales price of each brand was only 3899 yuan when it was launched in September last year. Months, the price of 3070 graphics cards is mostly around 8,000 yuan, the price has risen by more than 100%, and even old graphics cards can sell at high prices.
The reporter learned that many graphics cards were bought to “mining” and mining ether. As the second-largest currency in virtual currencies, Ether has increased by more than 400% since October last year, and the price of an Ether has risen to more than 11,000 yuan. Driven by interests, new mines are emerging in endlessly, and the investment amount is often over 100 million. The mine owner receives as many graphics cards as there are on the market.
The CCTV report mentioned that since the cost of Ether is only 7% of the value of the currency, with such a high profit margin of over 90%, it is estimated that the price of graphics cards will hardly return to normal levels in the short term. In addition, there is a shortage of chips worldwide, and graphics cards are no exception. This has also led to a sharp decline in the output of graphics card manufacturers, which has made the shortage of graphics cards even worse.
Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at blockreview.net. Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.