Sep 16, 2022 at 03:24The day of The Merge was filled with millions of people’s tears. Happy gamers have been weeping while browsing video card websites. After all, there is no need for powerful graphic cards mining Ether, and their prices finally began declining. And those who had invested thousands of dollars (and more) into buying hardware for mining, but couldn’t recoup the cost, weren’t wailing with joy.
Anyway, PC gamers are rubbing their hands and expect to grab a performance gaming GPU at a good price. And the most prominent manufacturers are not thrilled with the decline in demand. At the end of the 2Q2023 fiscal year, Nvidia’s total revenue was $6.7 billion, down 19% from the previous year.
“The decline in gaming GPU revenue was sharper than anticipated, driven by both lower units and lower ASPs. Macroeconomic headwinds across the world drove a sudden slowdown in consumer demand. We implemented programs with our gaming channel partners to adjust pricing in the channel and to price position current high-end desktop GPUs as we prepare for a new architecture launch,” during the earnings call, said Nvidia’s CFO Colette Kress.
GPU shipments are down 15% from last quarter. This is due, among other things, to the weakening of the PC market, as well as problems with semiconductors caused by both the coronavirus pandemic and the start of the war in Ukraine.
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Overall, prices for the most popular devices have fallen 40–50% from their peak value, and some have lost as much as 70%. For example, if an NVIDIA RTX 3080 Ti video card costs about $1,800 (and the most brazen sellers $2,400), now it costs about $1,000 in the U.S. and Europe.
According to StormGain Analytical Group, last November, the RTX 3090 brought in $7 a day, or more than $2,500 a year, on Ethereum mining (adjusted for power costs). At the peak of demand, miners bought up 30–50% of all new graphics cards, contributing to shortages and rising prices. And just before Ethereum Merge, most GPUs earned less than $0.50 daily.
Looks like there will be a torrential flood of $NVDA GPUs for sale starting tomorrow at 1:00am https://t.co/3ePScTQT31
— Julian Klymochko.eth (@JulianKlymochko) September 14, 2022
The same situation is with the GPUs from AMD. You can find the RX 6800 XT graphics card for less than $600. MSI Gaming and ASRock Phantom options for $579.99, RX 6700 XT for $359.99, and Radeon RX 6600 can also be found for $219.99. But the RX 6900 XT for less than $679.99 is not yet on sale.
What other cryptocurrencies to mine using GPU
There are alternatives to Ether. These cryptocurrencies can be mined at home (so this option is suitable for beginners who do not sell their coins but pay for electricity with their work and salary).
Large miners, on the other hand, will most likely choose the most profitable coin at the moment because they have high electricity costs to maintain a proper network. Also, large miners are very familiar with coin specifications.
Judging by the mood of miners, the most appealing coins for the long term were Ergo (ERG), Vertcoin (VTC), and Flux (FLUX). VTC is also because you can mine while gaming, so it doesn’t use any extra electricity.
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