FAST FIVE: Nvidia GPU Prices Plummet As Crypto Mining Craters

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Long popular with computer gaming nerds, these cards enjoyed a second life during the crypto boom as an essential component of the systems that generate digital coins.

“People don't want to buy GPUs knowing it's potentially going to be obsolete in two quarters,” he said, adding “We believe that crypto-related purchases have steadily declined.” According to MarketSight, the price for Nvidia's GeForce RTX 3080 fell from $1,100 in late April to $793 on Ebay, which means gamers can finally scoop up a card.

Nvidia expects to take a hit from reduced demand for GPUs – even though they had been trying to dissuade miners from soaking up inventory from gamers by employing hashrate limiters to reduce how quickly each card can mine.

Though demand from miners has helped fuel sales, the vagaries of the market suddenly made results harder to predict.

-Bloomberg “The reduced pace of increase in Ethereum network cash rate likely reflects lower mining activity on GPUs,” Nvidia Chief Financial Officer Colette Kress said during the company's quarterly conference call last month.

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