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Sunday, December 4, 2022

The Chinese GPU Drops To A New Low After The New Merger Of Ethereum

As reported by a Chinese retailer, the Nvidia GeForce RTX 3080’s cost decreased from eight-thousand yuan (1118 in dollars), to five-thousand yuan in just three months.

Costs for Chinese GPUs or Graphic processing unit, which are frequently used for generating coins like Ether, significantly decreased in China as investment banks accept the Ether network‘s switch to a proof-of-stake (PoS) consensus method.

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The once-highly sought-after Nvidia GeForce GPUs has considerably decreased in price as a result of the momentous Merger of Ethereum on September 15, claims a statement by the Southern part of China Post This morning. The RTX 3080 a Chinese GPU was used as an instance by Chinese businessman Peng, whose country’s currency fell from eight thousand  yuan, to five-thousand  yuan in just three months.

Peng claims that mining firms went on Chinese GPU purchase binges while BTC generation was among the most popular in China. However, the vendor claimed that nobody is now purchasing new laptops, even if we leave the new Chinese GPU out of equation.

The Prices Of Chinese GPU Prices Fell In The Past Three Months Because Of Ethereum Merger:

Another retailer by the name of Liu pointed out that the cost of low-end RTX 3080 cards from producers like MSI also decreased by about two-thousand yuan over two months earlier. As per to Liu, the excitement around the Ether Merge may have a significant impact on this.

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Lower demand affects more than just the oddline retailers of in-store. Chinese  GPU costs have also decreased on Taobao & JD, two online retail websites. Prices for RTX 3080 cards available on different platforms have gradually decreased from three months earlier by quite a few hundreds of yuan.

The blockchain switched from its energy-intensive proof-of-work (PoW) method to a PoS layer known as the Beacon Chain just after Ether Merge. With this, ecosystem members who’d risk ETH to serve as new supernodes of the system would supplant miners who previously processed transactions and produced blocks.

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