The Ethereum Merge blockchain upgrade which transformed the blockchain into a Proof-of-Stake consensus system has triggered a steep, nearly 60% drop in the prices of graphics processing units (GPUs), with Chinese sellers reporting the gear’s prices have reached their “lowest level ever”.
Local sellers of GPUs which were once highly sought after by crypto miners, such as those using Nvidia’s GeForce RTX 3080, RTX 3080 Ti and RTX 3090, previously demanded as much as triple of their recommended retail prices, The South China Morning Post reported. This said, due to the latest ETH merge, the demand for powerful GPUs has rapidly fallen over the past months in the Chinese market.
Those willing to buy an RTX 3080 in mainland China should be prepared to spend about RMB 5,000 ($700). Three months ago, the same gear would set them back around RMB 8,000, according to a local electronics merchant.
At the same time, the prices of consumer GPUs produced by major manufacturers such as Nvidia and...
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