The Party Is Over: NVIDIA GPU Prices Already Up 18% In Chinese Markets As ETH Crosses $3900

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A story from MyDrivers (via Videocardz) shows us that the GPU party is over for now and prices will almost certainly start creeping back up again. GPU prices have reached an all-time low back in July and everything seemed to be recovering but it looks like the second rally of Ethereum has started and shows no signs of slowing down: which has historically spelled disaster for GPU prices.

I tweeted back in August that the GPU party is over as far as I can see and will no longer advise people to wait before buying. It was clear almost a month ago that the forecasted trend was going up again and it has materialized almost to a tee in September 2021. ETH has crossed $3900 and with it, the wider cryptocurrency market has gone up again and profitability has almost doubled since early August.

Videocardz also compiled the data from MyDrivers and we can see that prices for the RTX 3070 Ti are already up by 18% and climbing. This is something that the last report from 3DCenter also reflects and we can see the upwards trend visible in the graphic at the top of the article.

ASUS:

  • RTX 3070 Ti: 600 yuan (92 USD)
  • RTX 3080 and RTX 3070: +300-400 yuan (46-62 USD)
  • RTX 3060 Ti, RTX 3060, and RTX 2060: +200-350 yuan (31-54 USD)
  • GTX 1660 and GTX 1050: +100-150 yuan. (15-23 USD)
  • RX 6600 XT: +400 yuan (62 USD)

Gigabyte

  • RTX 3090 and RTX 3080 Ti: +200-400 yuan (31-62 USD)
  • RTX 3070 Ti, RTX 3070: +100-300 yuan (15-46 USD)
  • RTX 3060 Ti, RTX 3060: +300 yuan (46 USD)
  • RTX 2060, GTX 1660, GTX 1650: +100 yuan (15 USD)
  • GTX 1050 Ti: +80 yuan (12 USD)

MSI

  • No change, but nearly all mid to high-end cards are out of stock

Upstream raw wafer foundries like Shin Etsu and Global Wafers are running at 100% capacity (and this is not something they can easily improve upon). With NVIDIA set to return to TSMC as well, we are existing in what is essentially a huge zero-sum game with no hope of capacity improvements till the end of 2022. Although ETH will shift to ETH 2.0 sometime later this year, which will do away with GPU mining on that particular coin, there are still altcoins that you can mine on a GPU and even NVIDIA's LHR series has been unlocked for more than 70% of its non-LHR hash rate.

Products mentioned in this post

GTX 1650
GTX 1650
USD 350
GTX 1660
GTX 1660
USD 676.2
RTX 2060
RTX 2060
USD 358.26

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