Lots of RX470’s about to hit the market.

Ready4Dis

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They could also just turn them back on and make $1 million per day.... Which seems easier than trying to sell that many cards.
 

cybereality

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Considering that Newegg is selling 1050 Tis for $300+, I think they will have no problem offloading these on eBay for eager buyers.
 

cybereality

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Also, RX 470s are going for as much as $400 on eBay. If they sold them for even $200 they would make a killing.
 

auntjemima

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They could also just turn them back on and make $1 million per day.... Which seems easier than trying to sell that many cards.
They are a Bitcoin mining company. Mining Bitcoin on GPUs is not cost effective, at all. Add to that the requirement to purchase racks, boards, risers etc for that many cards and the manpower to set them up, it isn't sensible.
 

cybereality

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They weren't just mining Bitcoin. It was Ethereum and others you could setup yourself. Not sure if they seized the rest of the hardware too (or returned it) but yeah, it would cost a lot to re-setup the whole operation.
 

Ready4Dis

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They are a Bitcoin mining company. Mining Bitcoin on GPUs is not cost effective, at all. Add to that the requirement to purchase racks, boards, risers etc for that many cards and the manpower to set them up, it isn't sensible.
If they are a Bitcoin mining company how did they accidentally end up with half a million GPUs that are good form mining ETH? It's a mining cloud provider, they had 485,000 GPUs and 60,000 Asics (presumably mostly for Bitcoin). I fail to see how they are Bitcoin only?

Edit - poster above me said same thing, slow to reply on my phone.
 

Endgame

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And that is sad.

An old mid to low end GPU that had an MSRP of $179 when it was new 5 years ago selling for $400...

It just highlights how absolutely stupid the market is right now.
The market is stupid because a single company buys half a million cards. There are probably dozens of mining companies out there with that many cards, and they certainly aren’t all RX 470s. Once mining capability is stripped from gaming cards, the supply problems will vanish and the market will go back to where it was.
 

Zarathustra[H]

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The market is stupid because a single company buys half a million cards. There are probably dozens of mining companies out there with that many cards, and they certainly aren’t all RX 470s. Once mining capability is stripped from gaming cards, the supply problems will vanish and the market will go back to where it was.

Nvidia gave that some lip-service by blocking it, but it didn't take them long to circumvent it.

The truth is, neither the likes of Nvidia nor AMD nor their AIB partners really care. They get paid no matter who buys them, and it actually costs them less in overhead to sell big bulk orders than it does to sell onesy twosies to consumers.
 

Jinto

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These are 470s and there wasn't a supply crunch then. Imagine how many GPUs are going into farms today...
 

Zarathustra[H]

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The market is stupid because a single company buys half a million cards. There are probably dozens of mining companies out there with that many cards, and they certainly aren’t all RX 470s. Once mining capability is stripped from gaming cards, the supply problems will vanish and the market will go back to where it was.

Also, there is partial truth to the mining crunch, but there is more to it than that. Chip fab consolidation and several big players either struggling or dropping out of pursuing latest gen nodes all together have contributed as well with a shrinking supply. Even if it were not for mining, there would have been a crunch.

Either way, I just looked up what a 2060 Super is going for on eBay right now.

I bought one as a gift for my Stepson in 2019 for $399. Now many of them are selling for well over $800. It is insane.
 

LukeTbk

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as well with a shrinking supply

Source ?

nAkTK6bTMg4RP9mLnrjDCG-970-80.png


While Q2 could be even up instead of the usual big summer drop (which show that they did not make enough last quarter obviously, but not that they made less than in Q1 2019)
Q2 2021:
GPU shipments in Q2 2021 increased a massive 37% year-on-year (when they say GPU and not DGPU it tend to mean all gpus)
PC CPU shipments increased by 42% year-over-year
3.4% growth QoQ over Q1 2021
 

DPI

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So who's going to arrange the group buy? Surely the members of [H] could absorb 485,000 GPU's 🤔
If they decide to sell, it would only go to another industrial scale operation, to the highest bidder. In that case the buyer was already lined up and logistics plan in place before this concluded.
 
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DPI

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Didn't China ban mining?
Not exactly. Only if mining with non sanctioned power, meaning setting up an offbook, direct deal with the powerplant/source and bypassing the government controlled and monitored grid.

All the "China BANS mining?!?!?" clickbait noise tends to drown out the more nuanced reality of the situation.
 
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Lakados

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Didn't China ban mining?
Sort of, China regulates power and the more dense the area the more power costs but what happens is a lot of mining operations set up in remote areas where power is cheap but the infrastructure is crap. So is really messes things up, so they banned them setting up in remote areas off the books. They need to register in an authorized industrial sector and pay accordingly.
 
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LukeTbk

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Yes. Which is probably why the authorities seized the hardware to begin with.

The dispute and seizing of the card started in 2018-2019 and not related to anything new regarding China mining, nor the card seized by the authorities (it was their hosting partner, which is a private hong kong registerd company that kept them after the lease was over):
Genesis filed suit against the hosting provider in 2019 requesting the return of more than 560,000 GPUs and over 60,000 application-specific integrated circuit (ASIC) miners after terminating the hosting agreement with Chuangshiji. Upon termination, Chuangshiji refused to return the hardware and instead began liquidating it without Genesis' consent, prompting Genesis to file suit.

From what I understand from the article, the current crack down could make it harder to relocate and relaunch in certain sector that are cracking down hard in energy use (from light in the street to crypto mining).
 

Endgame

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Nvidia gave that some lip-service by blocking it, but it didn't take them long to circumvent it.

The truth is, neither the likes of Nvidia nor AMD nor their AIB partners really care. They get paid no matter who buys them, and it actually costs them less in overhead to sell big bulk orders than it does to sell onesy twosies to consumers.
They do care though - they could be selling higher margin CMP cards to the miners, because to the miners it’s the cost of doing business. For professional rendering (say Pixar), or AI, Does NVidia go “A cards a card, and a sale is a sale”? Certainly not - they have the Quattro lines and A lines for a reason.

As for selling in bulk, what do you call new egg, Ingram micro, etc? They certainly have buying power, and can handle pallets of cards just like the miners do.
 
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