Retailer shows off massive consignment of AMD graphics cards earmarked for cryptocurrency mining rigs
Some time ago, Nvidia CEO Jensen Huang stated that RTX 3000 series graphics cards would remain scarce throughout 2022. Things are more or less the same on the other side of the aisle, too. However, those purported production issues don't seem to be an issue for cryptocurrency miners. A Bahrain-based retailer just showed off a massive consignment of AMD graphics cards on Instagram.
Twitter user @coreteks managed to capture the Instagram story, which showcased copious amounts of AMD Radeon RX 6900 XT, RX 6800 XT, RX 6700 XT and some RX 580 graphics cards. The sheer volume of the shipment suggests that there could be a collaboration between the store and some distributors. Although the individual price of the cards isn't listed, we can expect them to cost a pretty penny. Then again, it would be nigh impossible to buy one or two cards given that the firm caters to miners who buy in bulk.
A cursory glance at the Instagram page in question suggests that the firm deals mostly in ASICs. However, a post from last month (August 2021) lists an Nvidia GeForce RTX 3060 (non-LHR version) for an eye-watering 395 BHD (US$1,047). Similarly, an RX 580 is going for 225 BHD (US$600). The highlighted 'GPU Mining' story showcases some mining rigs with up to 24 graphics cards.
There is, however, a silver lining to all this. GPU-based mining will be rendered obsolete once Ethereum adopts the proof-of-stake model. Furthermore, Ethereum has been quite unstable of late; therefore, these mining cards could soon end up on the used hardware market. We've seen this saga play out a few years ago when Ethereum prices dropped rapidly.