Due to the fall of the cryptocurrency market, the price of video cards has dropped to record lows

Prices for graphics cards continue to fall due to the collapse of the cryptocurrency market and, consequently, low demand for them from miners. According to analysts at Jon Peddie Research, video card sales fell by 25.1% year-on-year and by 10.5% compared to the second quarter of 2022, the largest quarterly decline since 2009.

GPUs for laptops are currently the least popular. Companies report that demand for such devices is 30% less than in 2021. According to analysts, the main reason for the decline in GPU sales was the downturn in the cryptocurrency market. Currently, GPUs are not as «attractive» to miners as they used to be.

The decline in GPU sales could also be influenced by announcements about the development of a new generation of GPUs. Some users have decided to postpone their purchase now in order to buy state-of-the-art GPUs later.

As for cryptocurrency miners, large mining companies have started selling off digital asset mining rigs, hoping to cover losses due to the fall in the value of digital assets on the market. Chris Kiley, head of marketing at the Flexpool mining pool, said that several dozen video cards will even heat real estate in Vancouver: «Now that it’s getting colder, I’m going to turn them back on… the load on the graphics cards is going to generate heat, so it makes sense to just run the GPU rather than turn on the devices that heat the house.»