ETH Merger and price cuts for NVIDIA GeForce and AMD Radeon graphics cards

It’s only been a few hours since the ETH merger, and we’re already seeing a significant price drop for NVIDIA GeForce and AMD Radeon graphics cards at various retailers.

There are several factors behind this price drop, and one of them is undoubtedly the end of ETH mining as we know it.

With the ETH fork, video card mining is more or less over, and it’s something the market has been expecting for a long time.

Best graphics cards deals

• MSI rtx 3090 24gb: was $2009.99 now $979.99
• PNY rtx 3090 24gb: was $1749.99 now $1079.99
• EVGA rtx 3090 24gb: was $1919.99 now $1151.97
• Gigabyte rtx 3070 8gb: now $549.99
• EVGA rtx 3070 8gb: was $719.99 now $564.99

NVIDIA and AMD, of course, have been adjusting their GPU inventories and prices since the cryptocurrency began to decline, and this could be the final nail in the coffin of GPU mining. So now that GPU manufacturers can no longer rely on miners as the main way to sell their graphics cards, it’s time to grow the gaming business.

Nvidia and AMD are trying to force gamers to buy

Both vendors are trying to get gamers to buy their existing range by offering discounts to specific retailers and packages (games/accessories), and the retailers themselves are doing their best by bundling computers with older graphics cards, given the overstock of GPUs they now run on.

Situation may worsen for GPU retailers

But the situation could get worse for retailers because not only do they have a huge pile of “NEW” GPUs for sale, but a flood of ex-mining GPUs is already entering the used card market at even lower prices than what we currently have at retail, and a new generation of super-powered gaming cards is coming out relatively soon (GeForce RTX 4090 and RTX 4080).

Crypto Mining and graphics card

So, crypto mining is dead, gamers are not buying video cards because of inflation and waiting for next-generation hardware, and even if someone wanted to buy a video card, they would just go through the classifieds and buy a used one, given that they will not use it for long, but will trade it in for a new more powerful one.

That means we’ll see a drop in prices, and there have already been some interesting offers for those who may still want to buy new video cards.

Nvidia GeForce RTX 3090 graphics card

Let’s start with the most obvious: There’s already an NVIDIA GeForce RTX 3090 Ti, which for the first time sells for under $1,000. RTX 3090 Non-Ti prices already dropped below $1,000 a few weeks ago, but now it’s time for the 3090 Ti to drop below $1K. At Newegg, the Gigabyte GeForce RTX 3090 Ti Gaming graphics card is available for $999, and you’ll even get a $59.99 gift for a copy of the Marvel movie Spider-Man.

But $999 is still a very high price for a graphics card that could turn into a $500 or lower offer in just a few weeks. There are plenty of RTX 3090 Ti on the Chinese market for well under $1,000, around 4,999 yuan or $700.