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What made Crypto Miners start dumping out their high end GPUs?

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Crypto Miners
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Ongoing crash in crypto market has led to drop in cryptocurrencies, crypto firms halting their operations, and whatnot, now it’s crypto miners’ turn. 

Recently it has been seen that crypto miners in different countries are now looking to sell off their crypto mining accessories. This trend has been most effective in China where miners have started pulling apart their operations and trying to get rid of their best graphic cards while selling them to second hand marketplaces. Given the heavy decline in prices of top cryptocurrencies like bitcoin and ethereum, prices of graphic cards also started getting normalized. 

Since top cryptocurrencies needed most of the infrastructure and computing power, etc. to get mined and since their operations are on halt,crypto miners are now looking further to fill their losses while generating the money after selling off their mining equipment. It was almost like a flood when sellers with so many used graphic cards of GeForce RTX 30-series (Ampere), came on eBay like a Chinese second hand marketplace named Xianyu. 

While looking closely, it also came to notice that in the long list of graphic card sellers, there were not only crypto miners but also scalpers and owners of internet cafes. Several sources confirmed that there are multiple listings of some high end graphic cards like GeForce RTX 3080 that have been reportedly selling at 3,500 yuan or about $523.21. 

GeForce RTX 3080 has its MRP of $699 but used graphic cards of similar model are being sold for quite lower than their actual price. Not only this, several other reports stated that some sellers are selling them even at fake prices that are more than their actual price, where they have seen being sold at $600 to $750. Some of these miners have figured out a live stream auction to be one of the effective ways to sell their graphic cards. 

As per reports, crypto miners are selling GeForce RTX 3060 Ti graphic cards in huge quantities for between $300 to $350. There was a time when GeForce RTX 3060 Ti was among the most popular and demanded graphic card models preferred for mining because of its price and performance. However, it’s unfortunate to see that once a huge demand graphic card is now just lying like scrap on the floor waiting to be sold for the highest bid. 

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