GPU price plummets in February and favors ETH miners

The beginning of 2022 has been positive for ETH miners who, in addition to the income earned with ETH, are still managing to buy cheaper video cards.

This is as the prices of GPUs used to mine cryptocurrencies like Ethereum have been falling since the beginning of the year. In this way, miners are able to increase their mining power while spending less resources, making their return on investment faster.

GPU price plummeted in February

According to a survey on ebay, there is an 11% drop in the costs of these hardware used, in general, by the gaming community and the mining community.

“However, GPUs continue to sell for prices in excess of $1,000 in many cases,” the survey reads.

In addition, the publication highlights that this drop, which dates back several months, comes after GPUs reached very inflated prices as soon as the Covid-19 pandemic hit the world.

“However, now the story has changed and the low was down 6.7% and the high was up to 15.5%,” said another Tom’s Hardware publication.

The GeForce RTX 3090 GPU, for example, traded at $2,341 in February, a -10.2% difference from the price in January, when it sold at $2,609.

In another similar example, the GeForce RTX 3080 went from $1,613 in January to $1,440 in February. This is, therefore, a 10.7% drop in price. Meanwhile, the GeForce RTX 3070 card hit $988 in February, after $1,086 in January.

Among the GPUs analyzed, the one that saw the biggest drop was the GeForce RTX 3050, which went from $539 to $455. A drop of 15.5% for the GPU that was released on January 27 this year.

“Knowing the behavior that the price of GPUs will have during the rest of the year is unlikely. After all, video card costs vary depending on many factors, such as the video game market, cryptocurrencies, the pandemic and other elements.