Published On: Wed, Jun 21st, 2017

GPU Shortages in Russia as Bitcoin Fever Shows No Sign of Stopping

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Bitcoin’s high price is causing GPU shortages in Russia. Customers are buying 600 Graphics Cards at a time in order to mine cryptocurrency in exchange for Bitcoin.
Market Demand Outstripping Supply
Russia is the latest country to hit the headlines with news of its shortage of GPUs driving prices of the cards up by 80%. Moscow-based IT distributor Treolan commented on the shortage, saying:
Over the past two months, video card shipments have tripled,  Market demand exceeds supply.
Confidence and investment in the Bitcoin appear promising from this news, as state of the art graphics cards are not cheap with prices of $300 and above for the best ones. The electricity costs can also be significant.

Mining rigs easily run over 1000 watts for anything greater than the most basic of setups. While it is true that other altcoins, or alternative cryptocurrencies,  are being mined, most of them will ultimately be exchanged for Bitcoin.
It is a quick turnaround business too, as coins are rarely kept, but rather exchanged for Bitcoin and sold for local currency. The GPUs can then be sold off or turned off when they are no longer profitable to run.
Regular Computer Users Outraged

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