Graphics Cards Prices Plummet in China Following Bitcoin Crackdown

[Tsing]

Image: RABAUZ (Pixabay)



South China Morning Post has shared a promising new report for enthusiasts who are eagerly awaiting graphics cards pricing to revert to saner levels. Thanks to China’s ongoing crackdown on bitcoin mining, pricing for select GPUs have reportedly fallen by as much as two-thirds on e-commerce platforms. These include the NVIDIA Quadro P1000, which dropped to 2,429 ($376) yuan from 3,000 yuan ($463) in May at franchise store JD.com, and one of ASUS’ GeForce RTX 3060 SKUs, which dropped to 4,699 yuan ($725) from 13,499 yuan ($2,084) in May at Alibaba. The price changes stem from e-commerce information provider Manmanbuy.

Image: EPA



The price plunge comes after southwestern Sichuan province, which relies heavily on hydropower for electricity and had...

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[Grimlakin]

Man I know this is mean spirited... but I kinda hope scalpers eat some hard losses and have to go on a ramen diet until they find something else to scalp or get a regular side hustle.

 

[Dogsofjune]

I demand reparations...


That's an option, right?

 

[Riccochet]

Sad part is most of those cards they have are custom jobs built specifically for mining. Utterly useless to gamers.

 

[Endgame]

Sad part is most of those cards they have are custom jobs built specifically for mining. Utterly useless to gamers.

Well, for bit coin it’s all ASIC, so it wouldn’t be useful to gamers anyway. Even if we were talking ETH and video cards, it would still be best if the miners got stuck with the cards. Let them take a loss at the end of the bubble, and it may constrain them on the next bubble.

 

[Peter_Brosdahl]

Meanwhile, for the manufacturers, money is already in the bank but they'll feel the hurt when the used market gets flooded.

 

[Riccochet]

Meanwhile, for the manufacturers, money is already in the bank but they'll feel the hurt when the used market gets flooded.

I'm not sure it'll have much effect on gaming GPU market. Most of those chinese farms use cheaply built Chang Shin no name mining only cards. There are a bunch of companies in China that would buy only the GPU packages from Nvidia and AMD to build those cards. Utterly useless for gaming.

I suspect there are still a bunch of gaming cards that will hit the second hand market, but probably not enough to put a dent in the gaming demand. It might be enough for AIB's to catch up on supply issues. Since I doubt those Chinese companies are going to be buying GPU packages by the pallet for much longer.

 

[Peter_Brosdahl]

I'm not sure it'll have much effect on gaming GPU market. Most of those chinese farms use cheaply built Chang Shin no name mining only cards. There are a bunch of companies in China that would buy only the GPU packages from Nvidia and AMD to build those cards. Utterly useless for gaming.

I suspect there are still a bunch of gaming cards that will hit the second hand market, but probably not enough to put a dent in the gaming demand. It might be enough for AIB's to catch up on supply issues. Since I doubt those Chinese companies are going to be buying GPU packages by the pallet for much longer.

Too true but I have seen photos of more than a few rooms over there filled with name brands on lots of racks. I know what you mean about the knock offs though.

 

[Peter_Brosdahl]

Well, I was curious about the current state of scalping and checked Amazon and eBay last night for some 3090s. On average I saw some prices have dropped by $500-$1000 on Amazon. Some were approaching prices I've seen on NE Shuffle in recent months. Meanwhile, on eBay, I actually saw some listed close to MSRP for some AIB cards but that may not mean much in light of how the bidding process can easily cause a price to skyrocket. In either case, it's nice to things dropping finally.

 

[Auer]

Pretty safe bet that the large farms that bought tons of GPU's have already profited to the point that they dont mind dumping the cards in to a landfill.

AMD and Nvidia will never talk about the mass shipments to them either. Money is Money and gamer tears is not something they loose sleep over.

 

[Auer]

Don't see a radical drop as of yet

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[MadMummy76]

Only 10% drop here, which still means about 3 times MSRP. At least it was only 2 times MSRP when launched.

 

[Peter_Brosdahl]

Don't see a radical drop as of yet

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Yeah, I didn't check the 3080/3080 Ti models deliberately. Mark-up from day one on both has been so insane who knows if those will ever get to MSRP. OC3D has been reporting on some ridiculous retailer scalping for some time now with both. The 3090s were a little different. Prices were so high, to begin with, that, for a time, there was a lower ceiling until about two months ago when I saw nearly all go well over $4000. I saw some last night between $2700(EVGA FTW3)-$3700(Strix and X-Trio). When MSRP starts at around $2200-2400 it changes the dynamic a bit. When it starts at $799, well, you know. . .

 

[Peter_Brosdahl]

Oh BTW, in relation to EVGA, I was reading last night that EVGA is mainly focusing on selling LHR variants now. Those in queues are getting automatically switched to them but if you want the non-LHR you have to let them know and it could reset your position in the queue and they also will not guarantee order fulfillment.

 

[Denpepe]

Oh BTW, in relation to EVGA, I was reading last night that EVGA is mainly focusing on selling LHR variants now. Those in queues are getting automatically switched to them but if you want the non-LHR you have to let them know and it could reset your position in the queue and they also will not guarantee order fulfillment.

Yeah I got that mail, not sure I will buy anything just signed up to see if they will actually get to them over here in Europe.

In stores here it is still the same for a couple weeks now, a bunch of cards are in stock but prices are still very bad like MSRP x2 bad. Guess they will eventually have to come down if they don't sell.

 

[Peter_Brosdahl]

Yeah I got that mail, not sure I will buy anything just signed up to see if they will actually get to them over here in Europe.

In stores here it is still the same for a couple weeks now, a bunch of cards are in stock but prices are still very bad like MSRP x2 bad. Guess they will eventually have to come down if they don't sell.

Yeah, we'll see. If any were foolish enough to source outside their normal supply chains they may be strapped in to prevent losses. Some corps/retailers won't sell at a loss no matter how much sense it makes vs over sitting on a product that never moves. I've seen it. Doesn't make sense but it happens.

 

[Riccochet]

I've been on EVGA's queue for every variant of 3080 and 3090 since December. I have yet to get selected to buy any of them. I'm not holding my breath that I'll be selected to buy one any time soon either.

 

[Brian_B]

Unless the gray market gets flooded it will take some time with stable inventory for prices to return to “normal”

 

[Auer]

I've been on EVGA's queue for every variant of 3080 and 3090 since December. I have yet to get selected to buy any of them. I'm not holding my breath that I'll be selected to buy one any time soon either.

If you werent in the first minutes of the que it will take forever.
My EVGA 3080 Black took 9 months. The Hybrid 3080 FTW3 took 6 months.
But the Hybrid 3090 FTW3 took only a week.
Out of those three I kept the 3080 Black and added a hybrid kit.
The rest went to others in want/need.
3080's and the 3070's have the worst que.

 

[Brian_B]

If you werent in the first minutes of the que it will take forever.
My EVGA 3080 Black took 9 months. The Hybrid 3080 FTW3 took 6 months.
But the Hybrid 3090 FTW3 took only a week.
Out of those three I kept the 3080 Black and added a hybrid kit.
The rest went to others in want/need.
3080's and the 3070's have the worst que.

Also of note - higher end SKUs are moving faster than lower end ones.