Big picture: Crypto winter brings terrible news to everyone who has been building racks for mining farms. For gamers, this creates the right conditions for a price war between retailers and miners. At least in China, GPU prices are falling below MSRP everywhere, and it’s only a matter of time before this becomes a global trend.

- Advertisement -

Prices for used video cards fell 50 percent recently, primarily due to the sharp decline in the profitability of crypto mining. Companies like Asus have noticed the demand for GPUs used to mine Ethereum and other tokens. decrease to the point where there is no impact on their bottom line.

- Advertisement -

According to analysts, Ethereum miners spent about $15 billion over the past 18 months, capturing over a third of all available GPUs from Nvidia’s RTX 3000 series and AMD’s RX 6000 series. Now they are trying to sell them as quickly as possible before the prices bottom out.

- Advertisement -

As you might expect, this has caused a flood of used Ampere and RDNA 2 cards in the secondary market, with retailers sitting on large stocks of new cards. With next generation graphics cards on the horizon, gamers are in no rush to buy current models, some of which are nearly two years old.

In China, this is causing a price war between retailers and miners. Both have gradually lowered their prices over the past few weeks. According to a Baidu forum post, the average selling price of GPUs in the region is fallen about 20 percent below the MSRP.

Nvidia’s RTX 3090 and RTX 3090 Ti are now 29% and 38% below MSRP, respectively. This means the RTX 3090 Ti is around $1,415, which is still expensive but much more affordable than it was a month ago. The Founder’s Edition model now costs $1,600. Best Buy is another sign that the crypto winter is putting huge downward pressure on GPU prices, especially the more expensive models.

The same trend was observed on AMD cards. Team Red usually price their GPUs lower, but even the mighty RX 6900 XT is now 37.5% off the suggested retail price.

In general, choosing best value The GeForce or Radeon GPU is still highly dependent on your region and whether you have an urgent need to upgrade or replace your GPU. If you can wait, prices are likely to drop even more in the coming months.