Sales of video cards in Russia grew by 50% to 543500 units since the beginning of the year. The average price of the device decreased from 50,000 to 32,000 rubles.
F+ tech | Marvel Group business analyst Artur Makhlayuk said that Chinese Asrock (up 93%), Zotac (up 59%) and Inno3d (up 50%) had the biggest sales growth. Also on the list were US-based PNY (up 44%), Nvidia (up 17%) and Powercolor (up 14%).
The drop in graphics card prices may be due to a decline in interest in high-performance mining hardware that began as early as 2021.
“When the cryptocurrency exchange rate is low, the costs of mining it outweigh the profits,” assures Artur Mahlayuk.
Sales of video cards in the global market in 2023 also fell, by 38.2%, says Finam analyst Leonid Delitsin:
“Consumers are waiting for new video card models, which won’t appear until the third quarter, and then demand growth may start to pick up.”
Coindesk recently reported, citing industry insiders, that a mining boom has begun in Russia after sanctions were imposed. Luxor Technologies chief operating officer Ethan Vera said Russia is now receiving more mining equipment than any other country in the world.
Earlier, Vedomosti, citing the Analytical Center (AC) of the Fuel and Energy Complex, reported that Russian miners have reduced electricity consumption in 2022 by 47%.