Graphics Card Prices Tank in China Weeks After Ethereum Merge
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Ethereum’s long-awaited transition to proof-of-stake has further impacted graphics card markets since they can no longer be used to mine the asset.
Prices for graphics processing units (GPUs) have fallen to their ‘lowest level ever’ in China following the Ethereum Merge earlier this month. Graphics card vendors in China have reported reeling prices for mid and high-end units over the past two months according to the SCMP.
When ETH could be mined, and the bull market was in full swing, demand for Nvidia’s flagship GeForce RTX 3080 and 3090 models saw recommended retail prices tripling. However, according to merchants in Shanghai’s electronics retail market, demand and prices have slumped almost 40% over the past three months.
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