Cryptocurrency miners have exhausted available stock.
You’re probably aware that now is a terrible time to buy a graphics card, mainly because cryptocurrency miners have been buying them up in bulk and exhausting available stock (if you have to buy one right now, then Wes’s guide will help you get the best deal). Nvidia is at the heart of the storm, and this week CEO Jensen Huang moved to reassure PC gamers that the company is doing “everything we can” to increase supply.
“We’re working really hard to get GPUs out into the marketplace for the gamers. We’re doing everything we can, but I think the most important thing is, we just got to catch up with supply,” he said on an earnings call. The manufacturer is also advising online retailers to “serve the gamers” but, as Paul noted when the company first said that, it can’t put any official restrictions in place to ensure players get priority over cryptocurrency miners.
Earlier this week, analysts predicted that most cryptocurrencies would plummet to zero, and Nvidia reckons that the market will remain unstable, with demand for graphics cards unlikely to increase over the next few months. Executive vice president Colette Kress said: “Our main focus remains on our core market, as cryptocurrency will likely remain volatile.”
However, she acknowledged that the demand from miners had “exceeded our expectations” and grown in recent months, although the level of that growth was “difficult to quantify”.