A rumor posted by Chinese tech site MyDrivers claims the Chinese unit of XFX is selling almost its entire video card inventory to cryptocurrency miners. The price of Ethereum has steadily been climbing this year and reached. While still more than 50 percent below the peak seen at the height of the last cryptocurrency bubble, Ethereum is once again exchanging hands at levels not seen since 2018.
Ethereum trades at $377 today and has been trading in a range of $350 to $430 in the past month or so. VideoCardz reports this is driving demand for AMD's Radeon RX 500 and RX 5000 series video cards.
Despite being four years old, AMD's Polaris GPUs are still in production. The mining demand definitely explains why some of these chips haven't been retired yet. The Navi 10 based GPUs have comparable performance but are less cost-effective. Similarly, the NVIDIA Ampere-based GPUs aren't that attractive for mining, at least not at current prices.