Miners sell GPUs via live auction

The crypto market is now in bear territory, which means that mining returns are nowhere near as good as they were in 2021 when everything was up and down. As profitability declines, miners are increasingly dumping their hardware on the second-hand market. If there are further losses, we could see some truly epic GPU dumps.

This is especially evident in China, where mining has been concentrated for years due to low electricity prices.Sellers flock to free fish (opens in new tab)– it’s kind of like eBay in China – and ditch a bunch of RTX 30 graphics cards you don’t need.