Companies like Advanced Micro Devices (AMD) and Nvidia, which fuel cryptocurrency and Bitcoin mining, are said to be applying further price cuts to graphics card processing units (GPUs) to sell their remaining inventory. As a result of the coronavirus, supply shortages have been experienced in many different areas, and the cryptocurrency market has bought the limited supply of GPUs in bulk and black marketers have sold them second-hand at exorbitant prices.
According to Local Taiwanese Newspaper, AMD and Nvidia May Discount Cryptocurrency Mining Graphics Cards In September This has made buying a new GPU more difficult and costly than it already is. However, according to a report published by Taiwan Economic Daily on August 28, AMD and Nvidia are said to cut their prices significantly next month.
According to Xiao Junhui's report, Nvidia CEO Huang Renxun openly stated that there is an overstock problem, selling at a discount, and pressure to cooperate in running Taiwanese factories. The portal named MyDrivers added the following on the subject:
"Generation card manufacturers will start a new wave of price cuts from September, mainly for NVIDIA and AMD products, and the price cut will be much stronger than before, which can better alleviate the cost pressure."
As a result of the worldwide pandemic, there have been shortages of supplies in a variety of different areas, including PC users trying to update or replace their hardware. However, even now with the discounted price, it's possible that people can no longer afford to buy GPUs due to financial constraints. Perhaps just as important, the collapse in the crypto market has led to an increase in the supply of used graphics cards in the secondary market.
As a result of the transition period that Ethereum (ETH) mining is currently going through, this situation is expected to continue throughout September. It remains to be seen how the idle devices of ETH miners and the rumors that graphics card prices will drop will affect the cryptocurrency mining industry.