Bitcoin Miners Sell Off GPU Because Of Heavy Losses
Bitcoin continued to fall deeply, causing the old GPU to flood the market to buy and sell.
As the cryptocurrency market plunges, masses of miners seek to shrink the scale of operations or find a way out of the industry. Many people are trying to sell computer parts that are no longer useful.
According to Kotaku, miners from China and South Asia are devaluing GPUs once used to dig money on e-commerce websites. The resale price may be only half the cost of a new purchase.
As noted by PC Gamer, this is a trend created by many factors. Cryptocurrency prices have plummeted since the winter of 2021, and the market is still precarious, causing mining companies and miners to jump to work gradually.
Not only is the peach small, but many large companies and industrial-scale peach coins are also “escaping.” According to CoinDesk, Bitfarms, based in Toronto, Canada, has sold 3,000 Bitcoins for a total value of about $62 million to repay its debt, increasing liquidity. This number of Bitcoins is almost half the value they hold.
It should be noted that the resold graphics cards work at high intensity to mine cryptocurrencies, use a lot of power, and always run at total capacity for an extended period.
Many buyers find that most of these graphics cards are defective after use. Therefore, PC Gamer believes users should not buy an old graphics card from an unknown seller.
However, PC World believes that buying a used graphics card from an experienced miner is better than buying a graphics card from a gamer who often “squeezes” the GPU for extra performance, resulting in a graphics card failure.
YouTuber Linus Sebastian technology also directly tested various crypto dig GPUs and found that they still have the same performance as the new one if used and maintained carefully by the digger. He also advises that if users have to buy GPUs from a miner, they should buy from reputable sellers.
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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