Technology × Freedom

Ethereum Mining Is Driving Up the Price of Graphics Cards

July 6, 2017 invisiblehand

Tom's Hardware reports:

You might have to wait to upgrade your graphics card. The increasing popularity of the Ethereum cryptocurrency has caused "miners," who essentially earn units of the cryptocurrency by having their GPUs solve complex math problems, to buy out many mid-range graphics cards. Prices are rising, supply is falling, and now companies like Asus want to appeal directly to miners with new graphics cards.

Now the price of many GTX 1060s on Newegg has risen above $400, even though many retailed for around $250 two weeks ago. Amazon seems to have sold out of many GTX 1060s–popular models are currently only available from third-party sellers instead of directly from Amazon or from the cards' manufacturers. This suggests that Amazon and OEMs have all sold through their current stock of GTX 1060s.

As our own analysis shows, Ethereum has seen a sharp increase in market cap and trading price this year. As of July 6, the price of Ether has risen more than 600% in the past three months.