It’s hard to get your hands on a brand new graphics card these days, especially the new generation of RTX 30 series GPUs from Nvidia. Although no one can say for sure what reason is causing the most problems (since it’s mostly a collection of multiple reasons) one thing’s for sure: cryptocurrency miners are going crazy for the new GPUs.
Although pretty much every graphics card has been hard to get a hold of, it turns out that the recently released RTX 30-powered laptops are now being bulk bought by many crypto miners as well. In fact, some of these miners have reportedly been queuing up outside the graphics card manufacturing factories themselves and buying many laptops in bulk at a premium price.
This is because crypto miners are willing to pay up to 1/3rd more than what distributors usually pay, and in addition with very limited or even no warranty at all, increasing profits for the manufacturers. This has now resulted in multiple GPU mining farms popping up in places like China, where hundreds of RTX 30 laptops are set on shelves to mine as much cryptocurrency as possible.
What’s worse is how Nvidia is handling the situation. Now I usually like to be the optimist and understand that maybe Nvidia has their hands full and can’t really do anything about this.
However, with everything that’s been happening, the amount of RTX 30 cards and laptops these miners manage to get their hands on, and the fact that Nvidia is usually very strict when it comes to enforcing rules on retailers, distributors, and reviewers, so far it seems like Nvidia is doing nothing considering the profits they are making from miners compared to regular gamers.
These mining farms are becoming increasingly popular. So popular in fact, that Iran is reporting frequent power outages due to the many GPU mining farms located in their country. This is because Iran has fairly low cost electricity, and so many Chinese crypto miners have moved their large scale operations there as Iran’s electricity apparently costs 4 times lower than mainland China.
Reports say that Iran now has 14 large-scale mining farms that are currently in operation, which are consuming around 300 megawatts of electricity. In order to put that into perspective, 300 megawatts of power is roughly equivalent to a city with 100K people living there.
What do you think? Will this GPU mining craze ever stop or even slow down? Do you think Nvidia can’t help it? Or are they willingly taking part in it? And can anything actually be done about it? Let us know!