Thanks to Cryptocurrency Frenzy: Sales of Graphics Cards for Mining Cryptocurrency Surge | BusinessKorea

Saturday, February 24, 2018

The total sales of graphics cards increased nearly 88 percent in December last year compared to a year earlier.
The total sales of graphics cards increased nearly 88 percent in December last year compared to a year earlier.
Seoul, Korea
17 January 2018 - 10:30am
Yoon Yung Sil

Due to a frenzy in the crypto investment market, there was a sudden rise in demand for high-performance graphics cards, which are used to mine digital currencies.

According to price comparison site eNuri.com on January 15, the total sales of graphics cards increased nearly 88 percent in December last year compared to a year earlier. As the price of digital currencies surged, the lowest price of graphics cards has also shown a sharp increase from the end of last month. In particular, high-performance graphics cards, which are said to have high profitability in cryptocurrency mining such as GeForce 1060 and 1070ti, accounted for 49 percent of the total sales in December.

When you break a code in computer programs related to virtual currencies quicker than others, you receive a cryptocurrency as a reward. This is called mining and you must have high-performance graphics cards for mining.

The eNuri.com said that graphics cards continue to be in short supply in South Korea as some Chinese companies paid premium to get domestic graphics cards. With growing demands, the cumulative sales of graphics cards between the 1st and the 11th of this month grew a whopping 282 percent on-year and the number of sales as much as 226 percent.

Accordingly, the lowest price of popular graphics cards rose about 27 to 33 percent in the last three months from October to December 2017.

In addition, the sales of riser cards that connect graphics cards in computers for mining also showed a significant growth. The figure increased by 8.4 times, or 740 percent, in 2017 compared to a year ago and it grew by 16 times, 1,508 percent, in December last year compared to a month ago. 

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