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China GPU market hits to its “lowest level ever” Ethereum merge

China GPU market hits to its "lowest level ever" Ethereum merge

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A long-awaited change Ethereum proof-of-stake has had an even bigger impact on the cryptocurrency industry as the use of graphics cards has slowed down in crypto mining. The Merging Ethereum which happened earlier this month, price graphics processing units (GPU) China has dropped it “The lowest level ever.”

By SCMPs 25.9. release, video card vendors in China have reportedly seen prices drop for mid-range and high-end devices over the past two months.

After ETH could be mined and the bull market was in full swing, demand Nvidia’s reward GeForce RTX 3080 and 3090 the models exceeded the recommended prices by three times. This happened when the bull market was in full swing.

However, the shops that work Shanghai the electronics industry claims that demand and prices have fallen by about 40% in the previous three months.

The unique features of GPUs that make them well-suited for hashing, as well as the complex calculations used for mining proof-of-work blockchains, usually drive the price of graphics cards used for video games. rise together with the prices of cryptocurrencies. This is because mining cryptocurrencies using proof-of-work blockchains requires a significant amount of processing power.

There are several companies that manufacture graphics cards independently for the market such as Gigabytes, Asusand Micro-Star International (MSI)but the two companies that dominate the market are Nvidia and Advanced Micro Devices, and almost all other companies use GPUs made by these two companies.

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