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November 27, 2022
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Jon Peddie Research: 25 percent graphics cards are used to mine cryptocurrencies –

A new report by Jon Peddie Research found that the number of graphics cards used today to mine cryptocurrencies continues to grow. Apparently, as many as a quarter of all cards sent to users in 2021 are responsible for mining digital currencies.

Jon Peddie Research reports surprising figures

Jon Peddie Research has released its new report, which shows that approx. 25 percent. of all graphics cards shipped to customers in 2021 are used for cryptocurrency mining. We’re talking about hardware worth as much as $ 500 million. In practice, this means that about 700,000 can be used to mine cryptocurrencies. cards. However, these are devices shipped only in the first three months of the year.

There is also a huge shortage of semiconductors in the world. The effect of these phenomena is higher prices of graphics cards.

As reported by gry-online.pl portal, “A high-end graphics card, which at the beginning of 2019 cost an average of about $ 500 (in Poland about PLN 2,500), now you have to spend almost $ 1,400 (in Poland, prices exceed even PLN 10,000). The price level of low-end graphics chips has reached the level of the high-end two years ago (around $ 500). The most rapid increase can be seen in the prices of low and mid-range devices – in the fourth quarter of 2020, they soared even several times. The flagship models have also increased in price, but they have been steadily becoming more and more expensive over the past two years, so the price jump in this “breakthrough” quarter was not so colossal. “

Graphics card prices as a function of time, broken down by market segments. Source: Jon Peddie

Graphic cards

What cards do miners use to mine cryptocurrencies? Most often these are the latest NVIDIA models such as the RTX 3080 Ti models.

Will graphics card prices drop soon? It is doubtful. Some analysts say their shortage in the market may not end until mid-2022. However, it is also possible that the demand for this type of device will drop when the cryptocurrency market is over. This one, however, may take some time.

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