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Buying Used Mining GPUs Rewards Those Who Ruin PC Gaming

If you’re looking for a “lightly used mining GPU” for your gaming PC on eBay, Craigslist or Offerup, I’m here to tell you not to.

My post is not new, but it is different. While experts would say that buying a used mining graphics card can be the risk is very low – as long as the miner knows what he or she is doing – my argument against buying a mining GPU Beyond technical reasons: general principles.

GPU crypto miners, you see, are the ones who have been buying every single graphics card for the past two plus years forcing you, the PC gamer, to run far more than Old moldy hardware of its era, or paying ridiculously high prices for GPUs. Yes, supply chain issues have also caused shortages, but most believe that miners should bear the most responsibility for GPU shortages. I very much agree.

New card release from AMD or Nvidia? Forget it, it was snapped up by crypto miners before it even saw the inside of your gaming rig. Nvidia released a card specifically designed to prevent crypto miners from using them? There was only a brief slowdown before those GPUs were enslaved to Kessel’s crypto mining farm.

As the wheels finally get out of the cryptocurrency wagon over the past few months, these miners are now looking to offload those GPUs they’ve been earning at exorbitant prices.

No one really knows what the “normal crypto miner” does, but let’s take this miner profiled on CNBC earlier this year as an example. He operates 261 GPU miners and, by his own estimates, earns around $110,000 a month. In that miner’s case, I don’t know if he decided to throw in the towel or how many old GPUs he sold, but my guess, like most miners, is that part of the calculation when closing the store is by taking what the used market can bear These cards are sold at the highest price to “recoup” the investment in these cards.

Thousands of dollars a month in mining fees, you’ve recovered ten times the price of those GPUs. It’s like an oil company buying an oil rig for $10 million, using it to make $200 million in oil, and then selling that worn-out used rig (barely used) for $8 million .

I’m not going to remove any miner for killing him or her – in fact, they have more power with such a successful go-getter. But do you have to be so greedy that you can’t sell the card at a reasonable price to give these PC gamers the rest they deserve?

But no, from perusing GPUs on mining Ebay, it doesn’t look like it. One ad I saw was pushing a mining rig with a single GeForce RTX 3060 Ti (basically some crappy PC in an open chassis with a riser card) for $840. There doesn’t seem to be any good deals on used mining cards I’ve seen. If you are a miner liquidating at ultra-low prices, well, thank you. But most of the mining GPUs used are not a big deal. Well, at least, for those who might have Gulfstream G6 salesmen knocking on their doors, it’s not the big deal I’d expect.

Used GPUs

Used GPUs may provide great value for your money, but I wouldn’t give any of my money to crypto miners.

Thiago Tre Wissan

Of course not. Business is business. I understand. If I’m sitting on billions of dollars worth of cryptocurrency mined with GPUs (full disclosure: I’ve never mined a penny in my life), I probably wouldn’t care either. Instead of worrying about other people’s problems, I’d now like to use the money from selling these GPUs to invest in a confiscated superyacht.

However, what I can control is my own money – and I generally don’t buy used mining cards. Some have criticized my opinion and argued that the gall should be directed at graphics card vendors who have also profited handsomely from GPU mining over the past few years. Can they do more? Possibly, even possible. But all I know is that both AMD and Nvidia have at least tried to get GPUs into gamers’ hands, only to find that most of them have been moved to miner. Maybe watching GPU sales crash these days, they’ve all seen their karma pay off.

In the end, buying a used graphics card made by someone is just a galactic error of 80% of the MSRP and making a huge profit from it. Rather than buying that card, I’d rather tell them that putting that card where the RGB won’t shine is enough – especially with the price of new graphics cards plummeting.

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