Wednesday, May 31, 2023

Used Crypto Mining GPUs Are About To Flood The Market: Analysis

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The used crypto mining GPUs are about to flood the market as they are being sold off from miners that shut down their rigs because of the low profitability, but are they safe to buy? Let’s find out in our latest cryptocurrency news.

Gamers finally have something to be happy about as the bear market resulted in a mining exodus and diminished the demand for the high-end graphic cards. Crypto Twitter is getting full of images of stacks of GPUs that are sold on markets and the prices for new and used units are starting to come down. Earlier this week. Hardware Times reproted that the reseller markets showed Nvidia RTX 3080s for $523 and PC gamers also reproted that RTX 3060 TIs are going for as low as $300.

As with anything second-hand, it’s often a big gamble. The components running under heavy loads and high voltages get stressed which means they can wear out quite fast. A few gamers on social media issued warnings over the used graphic cards which were abused by mining and there have been reports from buyers of the used cards that they had components with heating issues. Gamers are often anti-crypto and for some reason not buying a used GPU was extreme and prevented miners from recouping more money from the process.

However, there are other sides to this story. One gamer pointed out that the high voltage and thermal expansion are the two things that can kill a processor over time:

 “GPUs used for Ethereum mining were typically undervolted to use as little electricity as possible, so voltage hasn’t degraded them.”

The used crypto mining GPUs are left in a steady-state often and their temperatures fluctuate little because they have cooling methods he even suggested buying from a marketplace that has buyer protection before concluding:

“The main people who want you to believe used cards are bad are the people who make new graphics cards.”

PC Gamer pointed out that the prices are returning to the retail price value but cautioned against buying now. NVIDIA’s 4000 series is close to release which means the prices for the current batch will fall even further:

“It’s great that we’re finally seeing GPUs at their MSRPs, but it’s important not to be blinded by the fact they’re available at close to MSRP or even below. It’s taken so long to get here, that the next-gen is just around the corner.”

If you are willing to take the risks and get a graphic card that was tested and running for a few hundred bucks with teh buyer protection, then it could be worth a shot.

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