We are just hours into the ETH merge and we are already noticing major price cuts on NVIDIA GeForce & AMD Radeon graphics cards across various retailers.
AMD Radeon & NVIDIA GeForce Graphics Cards See More Price Cuts Hours Into The ETH Merge
There are several factors behind the recent price cuts and one of them is without a doubt the end of ETH mining as we know it. With the ETH merge, mining on graphics cards is more or less over & that's something the market has been anticipating for a while. NVIDIA and AMD have been course correcting their GPU inventories and prices ever since crypto started to decline and this could be a final nail in the coffin for GPU mining. So now that GPU vendors can no longer rely on miners as a way to sell their graphics cards, it's back to boosting the gaming business.
Both vendors have been trying to get gamers to buy their existing inventory by offering retailer-specific discounts, and bundles (games/accessories), and retailers themselves are going the extra mile by bundling entire monitors given the excess stock of GPUs they are sitting on right now. But things are about to get worse for retailers as not only do they have a huge pile of *NEW" GPUs to sell themselves, but a flood of mining GPUs is already entering the used market with even lower prices than what we have currently on retail and there's also a new generation of gaming graphics cards coming out relatively soon.
So crypto is dead, gamers are not buying graphics cards due to inflation and anticipation for next-gen hardware and even if someone wanted to buy a graphics card, they would just go the used PC market route considering they won't be using it for the long-term. This means that we see a continued drop in prices and we have found some impeccable deals for those who may still want to buy new graphics cards.
Starting with the most obvious one, we have the NVIDIA GeForce RTX 3090 Ti that's for the first time selling below $1000 US. The RTX 3090 Non-Ti already hit below $1000 US prices a few weeks back but it's 3090 Ti's time to drop below one grand. Over at Newegg, the Gigabyte GeForce RTX 3090 Ti Gaming is available for $999 US and you even get $59.99 US of value added with a copy of Marvel's Spiderman Remastered. But $999 US is still a very high price to pay for a graphics card that might turn into a $500 or below offering in just a few weeks. The Chinese market has many RTX 3090 Ti's going for way below $1000 US and around 4999 RMB or $700-ish.
There's also a decent deal on the NVIDIA GeForce RTX 3070 with the Gigabyte Eagle OC variant going for below $500 US at $499 US. The rest of the cards have also seen a $10-$50 US drop in prices compared to the previous week. In the AMD camp, we have RX 6800 XT's going for below $600 US. There are the MSI Gaming & ASRock Phantom variants that are listed for just $579.99 US and you can also snatch an RX 6700 XT for $359.99 US. The Radeon RX 6600 can also be found for $219.99 US which is a pretty good deal for a budget PC build. Over at Microcenter, the 6900 XT is currently selling for $679.99 US.
— Julian Klymochko.eth (@JulianKlymochko) September 14, 2022
'The following table and charts by 3DCenter give us a better outline of how GPU vendors enjoyed several quarters of exponential growth in shipments and revenue due to the mining boom but it's all down now and they are trying to recover and entice their main audience, gamers, even more.
|desktop GPUs||GPU Sales||AMD||NVIDIA||Market Share (AMD/NVDIA)||Sales Revenue||ASP|
|Q1/2019||8.9 million||~2.0M||~6.9M||23 : 77 %||$2.8 billion||~315$|
|Q2/2019||7.4 million||~2.4M||~5.0M||32 : 68 %||$2.0 billion||~$270|
|Q3/2019||10.5 million||~2.8M||~7.7M||27 : 73 %||$2.8 billion||~267$|
|Q4/2019||11.7 million||~3.6M||~8.1M||31 : 69 %||$3.9 billion||~333$|
|Q1/2020||9.5 million||~2.9M||~6.6M||31 : 69 %||$2.7 billion||~284$|
|Q2/2020||10.0 million||~2.2M||~7.8M||22 : 78 %||$4.2 billion||~$420|
|Q3/2020||11.5 million||~2.6M||~8.9M||23 : 77 %||$5.6 billion||~487$|
|Q4/2020||11.0 million||~1.9M||~9.1M||17 : 83 %||$10.6 billion||~964$|
|Q1/2021||11.8 million||~2.4M||~9.4M||20 : 80 %||$12.4 billion||~1051$|
|Q2/2021||11.47 million||~2.3M||~9.2M||20 : 80 %||$11.8 billion||~1029$|
|Q3/2021||12.72 million||~2.7M||~10.0M||21 : 79 %||$13.7 billion||~1077$|
|Q4/2021||13.19 million||~3.0M||~10.2M||23 : 77 %||$12.4 billion||~$940|
|Q1/2022||13.38 million||~3.2M||~10.1M||24 : 75 %||$8.6 billion||~$643|
|Q2/2022||10.4 million||~2.1M||~8.2M||20 : 79 %||$5.5 billion||~$529|
GPU Market Statistics (2019-2022) By 3DCenter:
Once again, these are new AMD Radeon & NVIDIA GeForce graphics card prices. The prices in the used segment are going to be insanely brutal and we would advise our readers to wait for even higher price drops once the next-gen launches.