In recent years, the demand for cryptocurrency is on the rise, such as bitcoin and ethereum. However in order to mine for the currency, miners have turned to the use of various hardware such as GPUs, and for a while things were looking pretty good for miners where ethereum rose from $10 on the 1st of January to more than $400 last month.
Naturally this attracted a lot of interest in miners who decided to hop on board the bandwagon, and since there is an increase in supply, the law of supply and demand naturally dictated that prices would drop, which it did down to around $133 last weekend, according to a report from Coin Desk. So much so that it seems that there have been reports of an uptick in secondhand GPU sales on websites such as eBay.
Searching for “ethereum mining rig” on eBay will yield as many as 260 entries, most of which appeared after the 11th of June. This is the same for Craigslist where there were 126 entries. Clearly it seems that sellers are probably anticipating that there will be more miners who will be interested, and thus are selling GPUs to help in the mining process.
In fact it seems that ASUS does plan on capitalizing on the mining craze as there are plans to launch two new GPUs that are designed specifically for the cryptocurrency mining market.