'

Nicehash Profits are Skyrocketing, and it will kill the GPU market for gamers

The demand for GPUs from crypto miners has risen...

Nicehash Profits are Skyrocketing, and it will kill the GPU market for gamers

Nicehash Profits are Skyrocketing, and it will kill the GPU market for gamers

The rising value of Etherium is killing the GPU market, increasing the demand for already costly hardware thanks to the increased profitability of cryptocurrency mining. Cryptocurrency miners are now placing more stress on the GPU market, which is already undersupplied, causing the price of used graphics hardware to rise and many popular graphics cards to disappear from retailers. 
 
Today, the cryptocurrency mining service Nicehash claimed that RTX 3080 owners could earn $8.20 per day by using their GPU to mine on their service. Nicehash allows its users to mine cryptocurrency for its users, with Nicehash offering its miners Bitcoin in return. Nicehash is less profitable than directly mining cryptocurrency, but it offers miners an easy entry point into cryptocurrency mining. In short, if Nicehash is this profitable, directly mining cryptocurrencies like Etherium is extremely profitable. 

If the value of cryptocurrencies continues to rise, PC gamers should expect a repeat of 2017/2018, when cryptocurrency miners decimated retail stocks of graphics cards and inflated the used pricing of new and used graphics cards to insane levels. The high-end GPU market was already undersupplied, thanks to the demand of gamers alone, but now that situation is getting much much worse. 

With AMD and Nvidia already struggling to supply the market with an adequate supply of graphics cards, it is hard to see today's GPU supply situation improving anytime soon. Early 2021 will be a tough time for all PC gamers who want an upgrade, and the situation is likely to worsen before it gets better.  

 

Nicehash Profits are Skyrocketing, and it will kill the GPU market for gamers

You can join the discussion on Nicehash profits skyrocketing and its impact on the GPU market on the OC3D Forums

Bitcoin's value has risen to over $23,000 - a $3,000 increase in 24 hours  

«Prev 1 Next»

Most Recent Comments

04-01-2021, 22:13:55

Dark NighT
not again :/Quote

04-01-2021, 23:00:46

Gothmoth
it was pretty clear for a few weeks.


in mining forums people report about their new rigs with 50 or more RTX GPUs.
while the big stores here get 20-30 GPU´s a month.


the 78 RTX rig that was going through the gaming press the last days is just the tip of the iceberg.Quote

05-01-2021, 02:25:44

queeg
thankfully i have stacks of old games to play on my old gpus but i would like to buy a 6800 or xt for an uninflated price in the very near future its the only thing stopping me draining and redoing loop which really needs doingQuote

05-01-2021, 06:02:56

23RO_UK
So, in between a Global Pandemic affecting just about everything, an acute shortage of silicon and Scalpers; low and behold we can now add the predicted mining boom into the mix.

End result, you have more chance of seeing a rocking horse sh*t than getting your hands on a current generation GPU; ultimately, neither AMD or Nvidia will care whose actually buying them so long as the cash rolls in.

Oh Joy!Quote

05-01-2021, 09:12:27

Daiyus
Oh well. That pretty much seals it then. I'll be getting a motorbike this year instead of a new rig.Quote
Reply
x

Register for the OC3D Newsletter

Subscribing to the OC3D newsletter will keep you up-to-date on the latest technology reviews, competitions and goings-on at Overclock3D. We won't share your email address with ANYONE, and we will only email you with updates on site news, reviews, and competitions and you can unsubscribe easily at any time.

Simply enter your name and email address into the box below and be sure to click on the links in the confirmation emails that will arrive in your e-mail shortly after to complete the registration.

If you run into any problems, just drop us a message on the forums.