Recent easing of graphics processing unit (GPU) prices can be slowed if the developers behind the popular cryptocurrency Ethereum continue to delay the long-awaited update. Ethereum is one of the few valuable digital coins that can be “mined” using the GPU. This prevented miners from buying GPUs in bulk and getting GPUs from anyone trying to use them for other purposes, such as games. Get the product.
The heavy use of GPUs for cryptocurrency mining, coupled with global supply constraints after the coronavirus pandemic, created a serious market shortage and users waited months to get the latest products. I had to. However, Ethereum’s planned transition from proof of stake to proof of stake showed signs of easing the market. However, this update is currently delayed and the future of the GPU market is once again uncertain.
Ethereum update delayed in late 2022, risking delayed GPU price cuts
Reports of GPU prices falling after soaring to record levels last year have slowly surfaced during the year. Two of these reports surfaced in March. First mentioned NVIDIA Corporation has informed its partners that lower manufacturing costs should reduce prices by at least 12%.This went on immediately Another outlined The 35% drop in NVIDIA RTX 3080 GPU prices in Australia meant retailers weren’t sure about the premium offered by GPUs as a result of the planned Ethereum proof-of-work to proof-of-stake transition. Suggests.
For beginners, the latter is more computationally intensive than the former. Miners need to calculate network performance figures on a regular basis in order to receive awards in the form of Ethereum coins. After that, the need for a GPU to perform this task will increase.
Gamers were a little more involved Good news in late March When ASUS announced that it would reduce the price of all GeForce RTX 30 products starting this month. Some prices will be reduced by as much as 25% due to concerns that retailers may pre-sale for fear of expensive inventories.
Ethereum developer Tim Baiko has confirmed that the transition to Proof of Stakes will not take place by the end of the first half of this year, so it’s unclear if GPU prices will continue to decline. This delay could add incentives for miners to hold cards and could further strengthen mining efforts as they aspire to generate as much profit as possible before the shift takes place in the fall. ..
The transition to Proof of Stake has been going on for years, and as momentum gains, some miners quickly throw their tools into the resale market, fearing equipment prices will fall.For example, the next update and the crackdown on Chinese cryptocurrencies Used laptops and GPUs flood the market.. This was despite the fact that 2021 was one of the best years for the crypto sector since its inception. These products were available at a significant discount over their original price, reflecting the rough and heavy usage they experienced.