The Cryptocurrency Madness Is Hiking The Graphics Card Prices
It is not something new we know, but the prices of GPU’s are on the new high, We all know the hike in popularity that Bitcoin and other cryptocurrencies like Etherium, Ripple, and Litecoin. This has attracted investors and miners. Due to this rising price and public interest, graphics cards prices are on the new high. This is because a range of mid and high-end graphics cards have been bought in quantity by miners creating stock deficiencies.
According to a new report by Polygon, Nvidia’s GeForce GTX 1070 should cost around $380. However, some of these cards are being sold at more than $700 per piece due to the shortages. This is more than an 80% increase in price. These stacks of graphics cards are used by cryptocurrency miners to solve mathematical equations to authenticate payments and to create new bitcoin.
Since there are only a limited number of bitcoin and it is getting even harder to mine one so the computational power required is getting higher and higher. This has made it very hard for gamers to build a custom PC from scratch. Nvidia is advising the retail partners to prioritize gamers over miners but the retailers won’t say no to a big payday which they are more likely to get from the miners.
Some retailers have decided that they will not sell in stock so the miners can’t get their hands on more than one. Micro Center even offering discounts to gamers who buy the cards alongside other components. Micro Center accuses high demand from miners and forced shipments from vendors for the industry-wide shortages.