Mumbai: The worst bearish streak in crypto currencies world-wide is having a ripple effect on the prices of hardware that supported the complex mining process of these digital assets.
Gone are the days when crypto currency miners and the hardware makers raked in the moolah amid the recent boom in digital assets. In the wake of the crash in crypto prices, mining such digital assets has become unviable, resulting in miners dumping their high-end equipment in the resale market that has resulted in a crash in prices.
Sample this: Until a few months ago, if you needed a high-end graphic card, used to mine new bitcoins, it would have cost as much as 2 lakh in the black market. Now, users can buy the same cards online at their sticker price of around 1.1 lakh per unit. That's a drop of 45%.
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