NVIDIA GeForce Prices Skyrocket as Cryptocurrency Miners Snap up Supply

Megalith

Megalith

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NVIDIA cards are “drying up” just like certain Radeon cards due to increased interests in mining. The article points out that certain GTX 1060 models are going for $20 or $30 more than MSRP, which doesn’t seem that bad, but then it notes that a GTX 1070 has increased from $380 to $472, with some going for more than $600 – so I suppose “skyrocket” is an appropriate title after all. Have any of you managed to make good profit on this situation yet?

Searching Newegg for the GeForce GTX 1060 shows only two 3GB versions available, and they’re going for $20 to $30 over the card’s $200 MSRP. You can find many more 6GB GTX 1060 cards, but they’re all selling at wildly inflated prices as well. The 6GB cards dipped down to $240 or less around the time the Radeon RX 580 launched, but now every model except one sells for $270 to $310—and that lone exception still sells for $260. A similar situation exists on Amazon, with only a single backordered EVGA 3GB GTX 1060 going for anything near MSRP.
 
I was perusing eBay for one of them Zotac short 1080's, they were floating in the 519-ish range for a while. Fast forward a few days later.. Newegg still has them for $515 but they rapidly spike to over $700.

Ugh.
 
Ah, mining. I've made quite a bit of money off of it over the years due to supply/demand issues with video cards (I count wildly inflated resale values as money earned). Hell, back in the day I bought a 7990 on release, used it for almost a year, and sold it off for ~50% more than what I paid. Good times.
 
I have not =( Just sold two 1070's for $290, why didn't I WAIT.
 
Free money!

Wait...
upload_2017-6-20_15-10-36.png
 
Whether AMD or Nvidia, if you're currently looking for/in the market for a card, it sucks - because it makes availability scarce and prices skyrocket - but if you already got a card or are holding off, it's great because it's putting money in the companies' pockets for R&D and future products.
 
Time to sell high, wait for mining to crash then rebuy? Its like playing the stock market.
 
I was under the impression that nvidia cards werent good for mining, what changed?
 
grtitan said:
I was under the impression that nvidia cards werent good for mining, what changed?
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They are good for mining, but Nvidia's traditional premium brand made it unfavorable compared to AMD's cheaper and more power efficient (for mining) cards generally. With every AMD card sold out, miners are moving onto Nvidia's cards.
 
From what I've read unless you get free electricity you don't make any money from mining? Perhaps it just happens to depend on which crypto-currency?
 
I think to get any more significant push on AMD stock, they're going to need to make significant inroads with Epyc. They've definitely got some interesting ideas, we'll see how Intel responds.
 
TrailRunner said:
Bought AMD stock last week, hope to make good profit off of that.
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AMD is hosting a conference for their server parts launch right now. The stock is most likely going up in anticipation for that. If they don't please the market, your gonna see a nice dive.
 
Design1stcode2nd said:
From what I've read unless you get free electricity you don't make any money from mining? Perhaps it just happens to depend on which crypto-currency?
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From my limited understanding the current gpu mining boom is centered around mining that was intended to be mined on gpu by using large data sets that require a large vram buffer, something gpus can handle and not so much by asics. Thus yea, they can make money gpu mining.
 
Ugh. CPU prices are at the best they've been with the most choices in years, just time for GPU and SSD prices to skyrocket.

Why must the supply and demand gods vex me so? I keep holding off on a build for "the right time", but dang. Maybe I can sell my RX480 for some good scratch, though....
 
Design1stcode2nd said:
From what I've read unless you get free electricity you don't make any money from mining? Perhaps it just happens to depend on which crypto-currency?
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GPU mining has always been about going for the so-called "alt coins" and then trading them in for Bitcoin. The difficulty in Bitcoin is at the point that no one can make money except the governments or corporations that control large mining farms. The hot alt coin right now is Ethereum IIRC, and it just recently started to make sense from an ROI perspective to break out the GPU rigs again. But it does seem weird that this new surge has peaked during the summer when the added electricity cost is at its highest. I think I saw someone say that they have made a $174 net profit in the past couple months.
 
SighTurtle said:
AMD is hosting a conference for their server parts launch right now. The stock is most likely going up in anticipation for that. If they don't please the market, your gonna see a nice dive.
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Yeah, I'm aware of the Epyc launch. I had some spare scratch in my trading account, and bought < 20 shares. If it goes up, I earn a few bucks, if it goes down, I'm not crying about it. AMD can't disappoint me any more than Qualcomm has been.
 
vegeta535 said:
Hope it hits 1080 so I can upgrade to a free TI!
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I put my 1070 to work mining... I had two extra PC's in the house with a mix of AMD or nvidia in them, fired them up.... ordered a 1080ti primarily for gaming about 2 weeks ago.... basically it all pays for my 1080ti in about 3 weeks due to current profitability.

I bought the 1070 when it was released for the normal price, primarily used it for gaming, same thing with the 1080ti... basically with the way things are now building a mini-farm and having it pay for itself goes very quick. It's a fun little hobby if you are patient and look out for deals in the used market. Picked up a R9 390 8GB card for $259 the other day via reddit for $250, i could instantly flip it for almost $100 profit via ebay if I wanted. Any mining on top just sweetens the deal.


offerup, craigslist, I've been able to get cheap hardware that pays for itself in less than 30 days from people that haven't kept up with the pricing craze.
 
It seems like just a few months ago the Chicago area Micro Center stores would sometimes have open box GTX 1070 cards for around $330 to $350. Now those same open box 1070 cards are $500 and up. It's nuts.
 
They trying to stop it
So what the fuck can I do to make a profit?
 
Design1stcode2nd said:
From what I've read unless you get free electricity you don't make any money from mining? Perhaps it just happens to depend on which crypto-currency?
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I pay between 7 and 8 cents per kwh here in TX -- it's very profitable. If you are paying 20 or 30 cents like in some parts of the country I can see it taking a lot longer to break even on the investment. It's super cheap for me to build rigs b/c I can get all the other "parts" needed for practically free (cheap mobos, ram, etc) I actually have a ton of PCi-e risers left over from my last few mining rigs I built back in the day.

I view the whole thing as a bit of a hobby really, worst thing that happens is I wind up with a bunch of hardware that's already paid for itself, which I then sell off and realize even more profits :) Just checked ebay, I could sell my 1070 G1 for about $500, which is $100 more than I paid, and I've already gotten generated a good chunk of coin with it.
 
SuperSubZero said:
I was perusing eBay for one of them Zotac short 1080's, they were floating in the 519-ish range for a while. Fast forward a few days later.. Newegg still has them for $515 but they rapidly spike to over $700.

Ugh.
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That's just crazy you can get a 1080 ti for 700!!
 
Hypergreatthing said:
I thought custom asic mining was all the rage.
Have GPUs really gotten so much better?
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No, it's just that ASICs are designed for a particular algorithm not in used by ETH. See https://github.com/ethereum/wiki/wiki/Ethash
It takes time, money, and rationale to develop a new ASIC, so videocards are the first best option.

collegeboy69us said:
basically it all pays for my 1080ti in about 3 weeks due to current profitability.
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Wha? Maybe at the block rates from over a year ago. Assuming you're throwing over 100MH/s, it's still going to take nearly 3 months.
 
Hypergreatthing said:
I thought custom asic mining was all the rage.
Have GPUs really gotten so much better?
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Alternative coins (yes, there are a LARGER NUMBER to choose from) have popped-up where Bitcoin hit a wall.

They're still profitable with a GPU, and should be for the foreseeable future. So unlike the previous gold-rush, which was short-lived, this could be a long-term thing. So, until they up manufacturing, be prepared to wait for stock.

Also, the GTX 1080/Ti shouldn't be affected that much, since the higher latency of GDDR5X seems to affect the hash rate of some of these new coins. Most numbers I've seen put GTX 1070 at about the same performance as an RX 580, and the 1080 isn't much faster.
 
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Man I am glad I just bought a 1080 for $389.......Man would be sweet if I could make a profit on it later to get a 1080ti!!

Go Go Crypto mining!
 
I was about to start looking for new cards too.. Fuck that... I ain't paying those ridiculous prices... Won't be for years before they come down also... Thanks fucking cryptoheads...
 
Space_Ranger said:
I was about to start looking for new cards too.. Fuck that... I ain't paying those ridiculous prices... Won't be for years before they come down also... Thanks fucking cryptoheads...
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Like I already said, you can still get the 1080 for $500, and the 1080 Ti is still $700-and-up on Newegg. The only part of the market that's seen this shell-shock has been the mid-range. Because high-end cards that work WELL with mining alternative coins don't exist yet.

Unless you think Vega is going to be a mainstream part, or that Nvidia is going to heavily drop prices on their HBM2 cards, this isn't going to change anytime soon.

So, just aim your upgrade higher :D
 
If the mining boom falls apart, (or when), these cards will be sold on the used market, which generally dampens the new market somewhat.
 
SighTurtle said:
If the mining boom falls apart, (or when), these cards will be sold on the used market, which generally dampens the new market somewhat.
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Ya... with trash, worn out cards. I know tons of people that bought 290s after the last boom and they all had issues after a few months.
 
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