{"id":171207,"date":"2018-02-21T05:48:23","date_gmt":"2018-02-21T05:48:23","guid":{"rendered":"https:\/\/ktsl888.com\/?p=171207"},"modified":"2018-02-21T05:48:23","modified_gmt":"2018-02-21T05:48:23","slug":"popularity-of-mining-has-created-a-worldwide-shortage-of-gpus","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ai-and-tech\/popularity-of-mining-has-created-a-worldwide-shortage-of-gpus\/","title":{"rendered":"Crypto Mining Craze Creates Global GPU Shortage"},"content":{"rendered":"

The cryptocurrency\u00a0bull run of 2017 attracted multitudes of investors looking to get rich quick but it also created a mining boom that has resulted in a worldwide shortage of computer components.<\/p>\n

Miners Plunder Singapore, Hong Kong For Cheap Rigs<\/h2>\n

Scores of miners from around the world come to the electronics bazaars in Asia to buy cryptocurrency rigs.\u00a0Hong Kong\u2019s Sham Shui Po and Singapore\u2019s Sim Lim Square to name just a couple are jammed with people of all ages ordering specialized\u00a0rigs.<\/p>\n

This new demand<\/a> for mining rigs has revitalized these electronic markets that were dying only a few years ago when shoppers turned online for computers, cameras, and gadgets of all kinds.<\/p>\n

\u201cIt\u2019s 30-50 percent cheaper to buy equipment related to crypto-mining in Hong Kong than in Europe,\u201d Russian bitcoin miner Dima Popov said. This is because Hong Kong has no sales tax and is in close proximity to Chinese components manufacturers.<\/a><\/p>\n

Miners\u00a0are demanding more powerful rigs that can include up to 500 graphics cards each which has created a worldwide shortage of the cards allowing manufacturers and retailers to gauge\u00a0buyers on the price.<\/p>\n

Scarce GPU Cards Selling At Double Price<\/h2>\n

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

These high-end graphics cards are the most efficient way to mine cryptocurrency and as hobbyist miners and big players alike scramble to snatch up as many as 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 over $500 and that is if you can find them.<\/p>\n

Checking the price of the 5 most popular graphics cards from last year and comparing it with the updated version shows a general price increase of between 70 and 100%. This leaves many wannabe\u00a0miners trolling online for the best deals on new or even second-hand cards. Buying older cards though means slower computing ability which reduces the profitability of a rig.<\/p>\n

Rigs using, for example, a high-end Nvidia Geforce GTX 1080 ti card costing around $1,300 (MSRP) can earn as much as $10 dollars a day at current crypto values. This means that the card may pay for itself in about 4 months.<\/p>\n

String the math out and it’s easy to see how a fair sized rig can make a very nice profit over a year or more. Retailers reported a dip in demand 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 demand to reach and surpass 2017.<\/p>\n","protected":false},"excerpt":{"rendered":"

The cryptocurrency\u00a0bull run of 2017 attracted multitudes of investors looking to get rich quick but it also created a mining boom that has resulted in a worldwide shortage of computer components. Miners Plunder Singapore, Hong Kong For Cheap Rigs Scores of miners from around the world come to the electronics bazaars in Asia to buy cryptocurrency rigs.\u00a0Hong Kong\u2019s Sham Shui Po and Singapore\u2019s Sim Lim Square to name just a couple are jammed with people of all ages ordering specialized\u00a0rigs. This new demand for mining rigs has revitalized these electronic markets that were dying only a few years ago when shoppers turned online for computers, cameras, and gadgets of all kinds. \u201cIt\u2019s 30-50 percent cheaper to buy equipment related to crypto-mining in Hong Kong than in Europe,\u201d Russian bitcoin miner Dima Popov said. This is because Hong Kong has no sales tax and is in close proximity to Chinese components manufacturers. Miners\u00a0are demanding more powerful rigs that can include up to 500 graphics cards each which has created a worldwide shortage of the cards allowing manufacturers and retailers to gauge\u00a0buyers on the price. Scarce GPU Cards Selling At Double Price The market for high-end graphics cards used to work like anything else. You went to the electronics shop, found the card you wanted and paid just about the Manufacturer’s retail price. Today due to the escalating demand from mining you’ll most likely find the shelves that once held them bare but if you do actually what your looking for expect to pay a premium. These high-end graphics cards are the most efficient way to mine cryptocurrency and as hobbyist miners and big players alike scramble to snatch up as many as 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 over $500 and that is if you can find them. Checking the price of the 5 most popular graphics cards from last year and comparing it with the updated version shows a general price increase of between 70 and 100%. This leaves many wannabe\u00a0miners trolling online for the best deals on new or even second-hand cards. Buying older cards though means slower computing ability which reduces the profitability of a rig. Rigs using, for example, a high-end Nvidia Geforce GTX 1080 ti card costing around $1,300 (MSRP) can earn as much as $10 dollars a day at current crypto values. This means that the card may pay for itself in about 4 months. String the math out and it’s easy to see how a fair sized rig can make a very nice profit over a year or more. Retailers reported a dip in demand 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 demand to reach and surpass 2017.<\/p>\n","protected":false},"author":516,"featured_media":171236,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12436],"tags":[10502,1558,7437,10591,2294,2990,7436],"class_list":["post-171207","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ai-and-tech","tag-amd","tag-cryptocurrency","tag-gpu","tag-graphics-cards","tag-hardware","tag-mining","tag-nvidia"],"acf":[],"yoast_head":"\nCrypto Mining Craze Creates Global GPU Shortage<\/title>\n<meta name=\"description\" content=\"The cryptocurrency\u00a0bull run of 2017 attracted multitudes of investors looking to get rich quick but 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