Chinese are selling video cards up to 90% off in the secondary market

Charlie Taylor

The plethora of products available on the market is leading miners to sell Nvidia 3000 line GPUs for around $200 in the secondary market.The Chinese government has continued its strict policy of restricting bitcoin mining throughout its territory. Last month, authorities ordered the closure of up to 26 farms in Sichuan province, leading to a drop of up to 40% in the hashrate (computing power) of the bitcoin network. Hash-power on the Bitcoin network, in the opposite direction to Chinese territory. Glassnode's latest On-chain report showed just that, reporting that around 50% of Bitcoin miners are offline and on the go. With the siege closing, demand for hardware components in China has dropped dramatically and the secondary hardware market was swamped by new machines that have fallen out of favor by miners. As recently as June, we reported here at Blocktrends a drop of up to 70% in the price of Nvidia graphics cards on store shelves. But it seems that this movement was even greater in the secondary market for these components.VIDEO CARDS WITH 90% DISCOUNTIn June we reported that high-end video cards like Nvidia's RTX 3060 dropped from $2100 to about $730, representing an almost 70% drop in their prices, but that drop was further amplified in the used market. , a famous app in the Chinese second-hand market, one owner tried to sell a batch of RTX 3060 GPUs of different brands for an average price of $270 DOLLARS. This means that an RTX 3060 that was selling for $2100 1 month ago is now selling for about $250, representing about a 90% discount off the price. Another seller posted an ad a month ago trying to liquidate a shelf of laptops for games with 3060 integrated GPUs for about $1,000 each. But several users commented on the thread that even half the sale price was too high and they would only consider it if the owner could sell for less than $461 each.To stay up to date, follow the QR Capital on Instagram and on Twitter.Content Chinese are selling graphics cards up to 90% off secondary market appears first in BlockTrends – Blockchain | Investments | Economy.

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