The increasing popularity of Bitcoin is causing a prominent shortage in the supply of graphic cards. It is considered a key component of the digital currency system over the last few years.
The chief executive of JIB group of computers, known as a leading IT retail and computer gaming chain said that the price of graphic cards is also increasing since mid of May 2017.
Graphics cards are the main part of computer systems which used for mining the cryptocurrency like Bitcoin. People who invest in Bitcoin can get revenues on their investment from Bitcoin much faster than other investments. They can get returns of their investment within only 5 to 15 months.
A mining rig is a computer system which miners use for mining cryptocurrency. According to Mr. Somyot, people think investing in a mining rig is not very risky. They use minimum six graphic cards. At a price of almost 2940 USD, for a mining rig.
In gaming markets, the margin on graphic cards has also been increasing since the 2nd quarter this year, and it is about 2-3% to 8-10%. The graphic card companies need to reserve the cards to dodge a negative impact on gamers. In the markets, the demand for the graphics cards is also at a high point.
The most commonly used graphic card for Bitcoin are NVIDIA 1060 and 1070, and AMD 570 and 580. These were in short supply and causing a 20% price hike.
According to predictions, the higher prices will remain until October.
Don Sambandaraksa is a long time Bitcoin enthusiast associated with cryptocurrency since 2013 when the price of Bitcoin was at 40 USD, he said, these days Bitcoin may no longer be efficiently mined with CPUs or even GPUs (Graphics Processing Units).
He said people have made chips that could only do Bitcoin hashes, nothing else.
Mr. Don said, 1080Ti card’s price is about 700 USD and it can get a return on investment in almost 108 days. Over a year can make 2300 USD, an annual return on investment of about 300%. He said, as more people come to buy graphic cards then the less profitable they will be. Mr. Don also said it is a sign of the crazy levels of the profitability that mining offers.
Story Credits: www.bangkokpost.com