Crypto Mining Craze Creates Global GPU Shortage

The cryptocurrency bull run of 2018 attracted multitudes of investors looking to get rich quick but it also created a mining boom that has resulted ter a worldwide shortage of laptop components.

Miners Plunder Singapore, Hong Kong For Cheap Equipments

Scores of miners from around the world come to the electronics bazaars te Asia to buy cryptocurrency equipments. Hong Kong’s Sham Shui Po and Singapore’s Sim Lim Square to name just a duo are jammed with people of all ages ordering specialized equipments.

This fresh request for mining equipments has revitalized thesis electronic markets that were dying only a few years ago when shoppers turned online for computers, cameras, and gadgets of all kinds.

“It’s 30-50 procent cheaper to buy equipment related to crypto-mining te Hong Kong than te Europe,” Russian bitcoin miner Dima Popov said. This is because Hong Kong has no sales tax and is ter close proximity to Chinese components manufacturers.

Miners are requiring more powerful equipments that can include up to 500 graphics cards each which has created a worldwide shortage of the cards permitting manufacturers and retailers to gauge buyers on the price.

Scarce GPU Cards Selling At Dual Price

The market for high-end graphics cards used to work like anything else. You went to the electronics shop, found the card you wished and paid just about the Manufacturer’s retail price. Today due to the escalating request from mining you’ll most likely find the shelves that once held them nude but if you do actually what your looking for expect to pay a premium.

Thesis high-end graphics cards are the most efficient way to mine cryptocurrency and spil hobbyist miners and big players alike scramble to snatch up spil many spil they can prices go through the roof. Last summer popular GPU’s like the AMD Radeon RX 580 sold for about $250 at retail, today the price is more likely to be overheen $500 and that is if you can find them.

Checking the price of the Five most popular graphics cards from last year and comparing it with the updated version shows a general price increase of inbetween 70 and 100%. This leaves many wannabe miners trolling online for the best deals on fresh or even second-hand cards. Buying older cards however means slower computing capability which reduces the profitability of a equipment.

Equipments using, for example, a high-end Nvidia Geforce GTX 1080 ti card costing around $1,300 (MSRP) can earn spil much spil $Ten dollars a day at current crypto values. This means that the card may pay for itself ter about Four months.

String the math out and it’s effortless to see how a fair sized equipment can make a very nice profit overheen a year or more. Retailers reported a dip ter request for the cards during the crypto market correction but now that Bitcoin and it’s like are on the rise sellers and manufacturers are looking for request to reach and surpass 2018.

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