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Uptick in GPU miners selling gear via secondhand sites

Posted on Tuesday, July 18 2017 @ 13:39:58 CEST by


CoinDesk reports the recent crash of cryptocurrencies like Ethereum seems to have sparked panic among some miners as there's a sudden uptick of used cards and mining rigs on places like eBay and Craigslist. Most of these ads were published last week when Ethereum fell below $200:
The search term "ethereum mining rig," for example, shows 260 entries on eBay – all of which went online after June 11 this year except three. Half were published during last week when ether price dropped below $200.

A similar case is also seen on the classified ad website Craigslist, where all 126 posts of ethereum mining GPU sales can only be found after July 11.
Ethereum reached a high of over $400 on June 12 and fell as low as $133 last weekend. The cryptocurrency is currently trading for $193.17, which is still roughly 20x as much as in January 2017.

Ethereum Boom Bust cycle



 



 

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