{"id":496090,"date":"2022-09-26T13:15:00","date_gmt":"2022-09-26T10:15:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/china-gpu-prices-drop-to-new-lows-after-the-ethereum-merge\/"},"modified":"2022-09-26T13:15:00","modified_gmt":"2022-09-26T10:15:00","slug":"china-gpu-prices-drop-to-new-lows-after-the-ethereum-merge","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/china-gpu-prices-drop-to-new-lows-after-the-ethereum-merge\/","title":{"rendered":"# China GPU prices drop to new lows after the Ethereum Merge"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_84 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a2599531157b\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a2599531157b\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-1'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/china-gpu-prices-drop-to-new-lows-after-the-ethereum-merge\/#%E2%80%9D_China_GPU_prices_drop_to_new_lows_after_the_Ethereum_Merge_%E2%80%9C\" >&#8221; China GPU prices drop to new lows after the Ethereum Merge &#8220;<\/a><\/li><\/ul><\/nav><\/div>\n<h1><span class=\"ez-toc-section\" id=\"%E2%80%9D_China_GPU_prices_drop_to_new_lows_after_the_Ethereum_Merge_%E2%80%9C\"><\/span>&#8221; China GPU prices drop to new lows after the Ethereum Merge &#8220;<span class=\"ez-toc-section-end\"><\/span><\/h1>\n<p><img decoding=\"async\" src=\"https:\/\/images.cointelegraph.com\/images\/840_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvNGUxYTA5MzgtZmQwNy00MTc3LThlYjYtODdiMzI2ZTcxNjdmLmpwZw==.jpg\" \/><\/p>\n<div class=\"post-content\" data-v-6ebd806f>As the Ethereum network\u2019s move to a proof-of-stake (PoS) consensus mechanism drives adoption from institutional investors, the prices for graphics processing units (GPUs), often used for mining cryptocurrencies like Ether (ETH), have gone down in China.\u00a0<\/p>\n<p>Following the historic Ethereum Merge on Sept. 15, the previously highly sought-out Nvidia GeForce GPUs have become significantly cheaper, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.scmp.com\/tech\/tech-trends\/article\/3193272\/ethereum-merge-pushes-gpu-prices-china-lowest-level-shift-away\">according<\/a> to a report by the South China Morning Post. Peng, a Chinese merchant, gave the RTX 3080 as an example as the GPU\u2019s price dropped from $1118, or 8,000 yuan, to 5,000 yuan within three months. <\/p>\n<p>According to Peng, when Bitcoin (BTC) mining was at its peak in China, mining companies were doing GPU shopping sprees. But at the moment, the merchant said that no one is buying new computers, let alone new GPUs. <\/p>\n<p>Another merchant called Liu also highlighted that low-end RTX 3080 cards from manufacturers like MSI also dropped by around 2,000 yuan compared to prices two months ago. According to Liu, this may be highly influenced by the hype surrounding the Ethereum Merge. <\/p>\n<p>The in-store merchants are not the only ones affected by lower demand. Online shopping platforms Taobao and JD have also shown declining prices of GPUs. RTX 3080 cards on these websites have slowly gone down in prices by a few hundred yuans compared to their prices three months ago. <\/p>\n<p><strong><em>Related: <\/em><\/strong><strong><em>Possession of Bitcoin still legal in China despite the ban, lawyer says<\/em><\/strong><\/p>\n<p>After the Ethereum Merge, the blockchain transitioned from its energy-intensive proof-of-work (PoW) mechanism to the PoS layer called the Beacon Chain. With this, miners that used to process transactions and produce blocks are replaced by ecosystem participants who would stake ETH to become the new validators of the network. <\/p>\n<p>Meanwhile, a PoW fork called ETHPoW, went live as the Merge commenced. However, despite its attempts to retain the PoW consensus, it suffered technical issues when it launched, lowering the price of its ETHW token by 65%. <\/p>\n<p><template data-name=\"subscription_form\" data-type=\"crypto_biz\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/china-gpu-prices-drop-to-new-lows-after-the-ethereum-merge\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8221; China GPU prices drop to new lows after the Ethereum Merge &#8220; As the Ethereum network\u2019s move to a proof-of-stake (PoS) consensus mechanism drives adoption from institutional investors, the prices for graphics processing units (GPUs), often used for mining cryptocurrencies like Ether (ETH), have gone down in China.\u00a0 Following the historic Ethereum Merge on&#8230;<\/p>\n","protected":false},"author":1,"featured_media":496091,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjItMDkvNGUxYTA5MzgtZmQwNy00MTc3LThlYjYtODdiMzI2ZTcxNjdmLmpwZw==.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74891,80446,75042,74876,4973],"class_list":["post-496090","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-ethereum","tag-gpu","tag-mining","tag-proof-of-stake","tag-china"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/496090","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=496090"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/496090\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/496091"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=496090"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=496090"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=496090"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}