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- GPUs are becoming more and more affordable as the times pass. Recently the prices fell as low as 40%.
- Graphics cards are an essential component in personal computers that convert code into images displayed on a monitor.
- The high-end graphics processing units are used mainly in mining cryptocurrencies such as Ethereum.
The Growing Demand In The Industry
As we know, when car prices decrease, tires’ costs also decrease. Similarly, as we know, the crypto market is declining, and so are the prices of Graphic cards.
GPUs are becoming more and more affordable as the times pass.
According to completed listings data compiled from eBay, the latest models from Nvidia’s RTX 3000 series and AMD’s 6000 series have seen their prices drop 50% since the start of the year.
In January, an RTX 3060ti, one of the most efficient consumer-grade cards for mining Ethereum, typically cost buyers upwards of $1,000. Now, the same card trades hands on eBay for around $492.
The high-end graphics processing units are used mainly in mining cryptocurrencies such as Ethereum.
Most use cases of the GPU are used in proof-of-work protocol mining.
The Future
As we know, the times are coming! No, not trying to be dramatic; I am just saying that the metaverse is arriving soon.
That means that the need for graphic cards will exponentially increase. This statement points out that many underprivileged sections of the world will be entering this new technology because graphic cards will be accessible at lower prices.
Graphics cards are an essential component in personal computers that convert code into images displayed on a monitor.
While high-end GPUs let gamers play popular titles in great detail with advanced effects, the processors that render these high-quality graphics also effectively solve the complex equations needed to mine some cryptocurrencies.
Demand for graphics cards soared as the crypto market rose to new highs in late 2020. At the height of mining profitability in 2021, cards bought at the paramount sale retail price could be paid off after around three months of Ethereum mining.
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Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
