The price of graphics card air has doubled after it was released, and CCTV revealed that the profit margin of mining exceeds 90%

The cryptocurrency bull market has led to frequent shortages and price increases in the global graphics card market, and even authoritative media such as CCTV can no longer sit still. In a recent CCTV financial program, CCTV reported on the chaos in the graphics card industry, such as the release of graphics cards being like air and the price being doubled in just a few months, and pointed out that the culprit is mining, and it is difficult for graphics card prices to return to the launch price in the short term.

According to CCTV reports, the surge in cryptocurrency prices has led to widespread shortages and price increases for graphics cards. Take the RTX 3070 graphics card as an example. When it was first launched in September last year, the official sales price announced by various brands was only 3,899 yuan. However, four months after its release, the price of 3070 graphics cards was mostly around 8,000 yuan, an increase of more than 100%. Even old graphics cards can be sold at high prices.
The reporter learned that many graphics cards were bought for mining Ethereum. As the second largest cryptocurrency by market value, Ethereum has increased by more than 400% since October last year, and the price of one Ethereum has risen to more than 11,000 yuan. Driven by profit, new mining farms are emerging one after another, with investment amounts often exceeding 100 million yuan. The miners will take as many graphics cards as there are on the market.
CCTV reported that since the cost of Ethereum is only 7% of its value, with a profit margin of over 90%, it is estimated that the price of graphics cards will be difficult to return to normal levels in the short term. In addition, there is a global shortage of chips, including graphics cards, which has led to a sharp decline in the output of graphics card manufacturers, making the shortage of graphics cards even worse.