GPU prices had skyrocketed earlier but have fallen by nearly 50 percent now.
GPU prices have drastically gone down recently
One of the reasons could be the fall in values of cryptocurrencies
Cryptocurrency miners buy a large amount of graphic cards
After months of Graphics Processing Unit (GPU) shortage and their skyrocketing prices, there are indications in the European market that the crisis may be nearing its end. A new report reveals that the prices of AMD and Nvidia graphics cards have fallen by nearly 50 percent in Europe. Not just that, when it comes to availability, a range of GPU models are up for grabs as well. Though the prices of graphics cards are still on the higher side, the new report shows that the market could be recovering.
One of the reasons for the fall in prices of graphic cards could be the fall in values of popular cryptocurrencies such as Bitcoin and Ethereum. As of 5:42pm on June 25, Bitcoin price in India stood at Rs. 24.83 lakhs and Ether price in India stood at Rs. 1.40 lakhs.
According to a report by Jon Peddie Research, earlier this year, about 25 percent of the graphic cards were bought by cryptocurrency miners. But of late as the prices of the popular cryptocurrencies fell, the number of graphic cards required by miners could have reduced, bringing down the prices.
The price of RTX 3060, a Nvidia gaming console powered by AMD hardware, dropped from EUR 949 (roughly Rs. 84,000) to EUR 639 (roughly Rs. 56,600), while the RTX 3070 fell from EUR 1,499 (roughly Rs. 1.32 lakhs) to EUR 999 (roughly Rs. 88,500), stated a report by Digital Trends. The RTX cards witnessed a significant increase in inventory as well. The RTX 3060 cards are now available in 24 models as compared to just five, while the RTX 3070 has jumped to 26 models from just 4 a month ago.
The Digital Trends report also says that while the US market may see more cards available in the market, they are likely to be priced higher than the manufacturer’s suggested retail price (MSRP). The reason? Hefty tariffs on these cards imported from China.