Report: 3 Million GPUs Sold To Crypto Miners In 2017, GPU Prices Not Coming Down Anytime Soon
The sudden boom in cryptocurrency mining has caused a shortage of GPU and has also resulted in GPU prices to increase and now a report has revealed just how much GPU were sold to crypto miners by Nvidia and AMD. According to the report, 3 million GPU were sold to crypto miners in 2017 and also suggests that GPU prices aren’t coming down in near future.
The report comes from Jon Peddie Research which suggests that compared to Q4 2016, GPU shipments decreased in Q4 of 2017 around 4.8%. According to the report, 3 million GPUs were sold to crypto miners which make around $776 million.
According to the report, while gaming will and have always been the primary driver for GPU sales but GPU prices aren’t coming down anytime soon and gamers themselves can offset the high-cost by mining cryptocurrency themselves.
Gaming has been and will continue to be the primary driver for GPU sales, augmented by the demand from cryptocurrency miners. We expect demand to slacken from the miners as margins drop in response increasingly utilities costs and supply and demand forces that drive up AIB prices. Gamers can offset those costs by mining when not gaming, but prices will not drop in the near future.
However, Jon Peddie Research is not the only one predicting the increasing GPU prices in near future as Nvidia has also predicted that GPU prices will further increase in 2018. The company predicted: “that the pricing in the market will continue to go up through Q3 of this year most likely before we start seeing any type of relief”.
While this digital currency mining has caused problems for gamers but surprisingly ASIC Miner, BITMAIN, made more money than Nvidia in 2017. BITMAIN made around $3-4 Billion in profits in 2017 which is way above Nvidia’s $2.91 Billion profits in 2017.
This goes on to show that the cryptocurrency miners are considering all the options to mine cryptocurrency and ASIC miner is their first machine of choice to mine Bitcoin and like.
What do you think of increasing GPU prices and the cryptocurrency mining? Let us know in the comments.