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Any additional notable insights I have found are detailed. When Ethereum eventually moves to PoS, even more GPUs will be dumped on the secondary market, and prices will likely spiral even further, Gerra said. Adding to the downward pressure is that the price of ethereum has been relatively low, while the difficulty of mining has increased. When the Ethereum network reached record difficulty in December, NiceHash saw about , miners drop off its platform, Downie said.
In February, the war in Ukraine depressed crypto prices, which in turn made mining less profitable, and so GPU prices fell even more, said Haohao, a sales rep from Xuxin Science and Technology, a company that resells mining machines in China. In the past month or so, slowing consumer demand in China and Europe has led to even more excess inventory, pushing GPU prices even lower, Gerra said.
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