Crypto crash has caused a flood of mining GPUs to hit the market via livestream auctions – report

Following the recent crypto-mining crash, it appears that many Chinese crypto-miners have taken to livestreams to dismantle their rigs and sell off their graphics cards.

It has been no secret that both AMD and NVIDIA graphics cards have been purchased en masse for mining cryptocurrency. However, in light of the ongoing decline of both Bitcoin and Ethereum, it appears that the days of crypto-mining may very well be over.

First reported by WCCFTech, various photos from livestreams and of online auctions have been shared to Chinese forums, with Baidu being one example.

Pictures in the forums display hundreds of graphic cards piling up on every surface. With the prices of these cards dropping every day, crypto-miners seem to be frantically trying to sell them through online auctions and in some cases, through livestreams.

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WCCFTech reports that some of the highest-range graphics cards are selling for incredibly cheap. The NVIDIA GeForce RTX 3060 Ti is reportedly selling for between $300-350 on the sites, with the price of the GPU being over double that just a few months ago.

At first glance, trying to hop into one of these livestreams or auctions and buy a dirt cheap GPU might seem appealing. Testing has shown that graphics cards used for mining can be used after the act provided that they’re kept cool and clean throughout their life span, but if you’re looking to upgrade your gaming rig, just bear in mind that buying second-hand does come with risks.

While this could be good news for those of us who have been waiting patiently to grab a new GPU, WCCFTech notes that this likely means NVIDIA and AMD could very well have a hard time selling off their excess inventory while crypto-miners sell off theirs. This could lead to a wait for the next gen of GPUs, but hey, at least GPU prices are finally beginning to return to normal.