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With the price of Ether falling below $2,000, the cost of graphics cards has dropped even further from June to July.
In July, graphics processing units (GPUs) became a little cheaper as the price of Ether continued to fall (ETH).
According to a review by TechSpot, GPU prices across popular graphics cards are slightly lower in July than they were in June.
The lower prices in July are a continuation of the steady decline in GPU prices since the onset of the current crypto market downturn.
Indeed, with ETH tanking from over $4,000 in May to below $2,000, mining profitability has also tapered significantly. According to data from BitInfoCharts, Ether mining profitability is down about 80% from its May 2021 highs.
GPU mining interest appears to be at a slower lower ebb, with Ether mining difficulty dropping down almost 8%. Overall, these reasons may cause a drop in demand for already scarce graphic card hardware, which would help non-crypto mining GPU users such as gamers.
As the price of GPU miners rose due to increased demand from altcoin miners, manufacturers were obliged to incorporate hardware blocks in their graphics cards to limit performance in order to discourage miners.
In an effort to decrease the cost burden on the rest of the PC hardware ecosystem, GPU manufacturers such as Nvidia have introduced crypto-mining-only graphics cards.
According to TechSpot, GPU price inflation has decreased by 16 percent since June’s manufacturer’s suggested retail price (MSRP). Several GPUs have already dropped by $200 to $500 in the third week of July.
Despite the drop, GPU prices are still significantly higher than their MSRPs, resulting in an average price inflation of 92 percent, according to TechSpot data. Indeed, the GeForce RTX 3060 Ti’s quoted price of $1,012 is around 153 percent of its $400 MSRP.
Gamers and other non-crypto mining members of the PC hardware ecosystem may still find GPU costs out of reach, especially for brand-new GPUs, with GPUs still selling for nearly twice the MSRP.
In fact, the similar issue prevails in the used GPU market, with recent price cuts insufficient to induce major price inflation reductions.
However, as Cointelegraph recently reported, Nvidia GPU prices are falling across Chinese e-commerce platforms, owing to the country’s crackdown on crypto mining.