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Radeon RX 6900 XT LC Graphics cards end up in mining farms
Remember that RX 6900 XT LC liquid cool version popping up at an etailer in Europe a few days ago? Well, you can probably guess where these cards end up right?
In Europe, the cheapest list is that of the German retailer MindFactory, which sells the card for 1,749 euros, or 1980 US dollars. By comparison, the entry-level RX 6900 XT starts at 1500 euros. After a few days of these ads appearing in stores, Andreas Schilling from HardwareLuxx released photographs of a mining rig equipped with ten of these cards, demonstrating that graphics cards are once again finding their way into the hands of miners, rather than gamers. This is strange in the case of these RX 6900 XT, because the same hashrate can be obtained with a much cheaper RX 6800 XT, the time required to recover the investment is shorter, although we have already seen that some miners prefer exotic solutions even if they are not the best in terms of price performance.
It will be fascinating to watch whether AMD decides to release this RX 6900 XT LC on a global scale, or whether only a limited number of units will continue to surface in certain places, as has been the case thus far. We'll keep you informed.
German Etailer Posts Reference Radeon RX 6900 XT LC (LCS water cooled) - 11/25/2021 07:59 PM
Initially, this puppy would only be available for the OEM segment, yet our neighbors in Germany are now actively selling the reference AMD Radeon RX 6900 XT Liquid Cooled....
Entry-level Radeon RX 6500XT and RX 6400 RDNA2 based Graphics cards listed with 4GB GDDR6 (updated) - 11/23/2021 10:05 AM
Navi 24 might soon see the light of day. Japanese leaker dataminer @KOMACHI ENSAKA claims to have discovered the first listings for the Radeon RX 6000 graphics cards, which have not yet been launched....
Radeon RX 6900 XT with EKWB water block is now available from XFX. - 11/05/2021 10:25 AM
A Radeon RX 6900 XT graphics card with a full-cover water block developed by EK Water Blocks for use with water cooling systems....
Biostar has announced the release of their RADEON RX 6600 graphics card. - 11/02/2021 11:25 AM
BIOSTAR today announced the new BIOSTAR AMD Radeon RX 6600 graphics card....
Micron Introduces 16 Gbps GDDR6 Memory for AMD Radeon RX 6000 Graphics Cards - 11/02/2021 09:59 AM
Micron announced that its high-performance 16Gb / 16 Gbps GDDR6 memory solution is now available with AMD Radeon RX 6000 Series graphics cards built on the AMD RDNA 2 gaming architecture....
ruthan
Senior Member
Posts: 545
Joined: 2016-05-24
Senior Member
Posts: 545
Joined: 2016-05-24
#5968604 Posted on: 11/29/2021 11:18 AM
Once vendors/retailers managed to turn graphics cards to luxury goods, it would be very hard / impossible to return to old status quo.
Imagine these margins and customers willing to wait long time for any card.. vendors and retailers are now on trip in heaven.
Problem is once customers accepted these terms, vendors are happy with them.. yeah they will occasionally write something like that they understand that is bad for customers and they will try to find some reason how to defend why prices are so high, its usually empty as talk about how bad is that some people have enough food or medicine, bla bla.
Unless whole crypto would implode there is not real force to change situation.. and crypto is now even part of lifestyle, be progressive, big people as Elon Musk are in.. its not seen as bad thing - which is wasting energy, resources, climate, make some items expensive.. and legalize dirty money.. beside to enable some suppressed Chinese people to buy some proper currency (which is good thing), and its needed only because China is leaded by very bad people / party.
Graphic cards and crypto are become now almost strategic resource..
Why would vendors/retailers sell cards with 1/5 margin, they would be sell 5x times more cards to get some money, or even more because other expenses? Its like diamonds to everyone its very slim chance that it would happen, unless miracle will happen.
Once vendors/retailers managed to turn graphics cards to luxury goods, it would be very hard / impossible to return to old status quo.
Imagine these margins and customers willing to wait long time for any card.. vendors and retailers are now on trip in heaven.
Problem is once customers accepted these terms, vendors are happy with them.. yeah they will occasionally write something like that they understand that is bad for customers and they will try to find some reason how to defend why prices are so high, its usually empty as talk about how bad is that some people have enough food or medicine, bla bla.
Unless whole crypto would implode there is not real force to change situation.. and crypto is now even part of lifestyle, be progressive, big people as Elon Musk are in.. its not seen as bad thing - which is wasting energy, resources, climate, make some items expensive.. and legalize dirty money.. beside to enable some suppressed Chinese people to buy some proper currency (which is good thing), and its needed only because China is leaded by very bad people / party.
Graphic cards and crypto are become now almost strategic resource..
Why would vendors/retailers sell cards with 1/5 margin, they would be sell 5x times more cards to get some money, or even more because other expenses? Its like diamonds to everyone its very slim chance that it would happen, unless miracle will happen.
KissSh0t
Senior Member
Posts: 11054
Joined: 2011-10-22
Senior Member
Posts: 11054
Joined: 2011-10-22
#5968605 Posted on: 11/29/2021 11:22 AM
Honestly who else is buying high end video cards....
Honestly who else is buying high end video cards....
Valken
Senior Member
Posts: 2132
Joined: 2011-01-05
Senior Member
Posts: 2132
Joined: 2011-01-05
#5968611 Posted on: 11/29/2021 12:09 PM
The math is terrible for GPU mining but everything rides on the speculation part:
https://www.hashrate.no/6900xt
The 6900XT will pay for itself at $999 in 223 days, 24 hours in operations or about 4.xx USD per day.
That is at the current rate of Etherium @ 4297 USD per ETH as of this post:
https://coinmarketcap.com/currencies/ethereum/
But if ETH doubles, then you just made another $999 in 223 days in cash plus the original 999 back.
The value really depends on speculating ETH to go nuts like Bitcoin...
I think it is literally the same if the miners just mined Helium off RF frequency with a lower power and priced device (~ 300 USD) making 4 USD per day with a current value of ~ 40 USD Per HNT coin and breaking even in ~ 2.5 months? If HNT spikes up to 50 USD, then you just cut the ROI down by 20% so down to 2 months or 60 days to break even. Then the rest is profit.
Or better yet, just buy ASICS, eat the upfront costs in the thousands but make all your money back in a fraction of the time. GPU mining is becoming the poor man's miner in terms of cost and efficiency. ASIC is really the way to go even for beginners in terms of initial investment vs ROI.
Yes, I look into these things as it gets asked around a lot even in IT circles. The money being thrown around is ridiculous compared to network infrastructure gear. We are talking millions...
Still technically, it is free money after ~ 9 months of investment from then on, so long there is no crash.
Better than any bank interests currently honestly...
The math is terrible for GPU mining but everything rides on the speculation part:
https://www.hashrate.no/6900xt
The 6900XT will pay for itself at $999 in 223 days, 24 hours in operations or about 4.xx USD per day.
That is at the current rate of Etherium @ 4297 USD per ETH as of this post:
https://coinmarketcap.com/currencies/ethereum/
But if ETH doubles, then you just made another $999 in 223 days in cash plus the original 999 back.
The value really depends on speculating ETH to go nuts like Bitcoin...
I think it is literally the same if the miners just mined Helium off RF frequency with a lower power and priced device (~ 300 USD) making 4 USD per day with a current value of ~ 40 USD Per HNT coin and breaking even in ~ 2.5 months? If HNT spikes up to 50 USD, then you just cut the ROI down by 20% so down to 2 months or 60 days to break even. Then the rest is profit.
Or better yet, just buy ASICS, eat the upfront costs in the thousands but make all your money back in a fraction of the time. GPU mining is becoming the poor man's miner in terms of cost and efficiency. ASIC is really the way to go even for beginners in terms of initial investment vs ROI.
Yes, I look into these things as it gets asked around a lot even in IT circles. The money being thrown around is ridiculous compared to network infrastructure gear. We are talking millions...
Still technically, it is free money after ~ 9 months of investment from then on, so long there is no crash.
Better than any bank interests currently honestly...
Tat3
Senior Member
Posts: 11775
Joined: 2006-11-30
Senior Member
Posts: 11775
Joined: 2006-11-30
#5968612 Posted on: 11/29/2021 12:20 PM
Still technically, it is free money after ~ 9 months of investment from then on, so long there is no crash.
Better than any bank interests currently honestly...
Currently, but people who invest are looking into the future. Stock prices are at all time high, but there is still money to be made and risks are much lower than with cryptos.
Still technically, it is free money after ~ 9 months of investment from then on, so long there is no crash.
Better than any bank interests currently honestly...
Currently, but people who invest are looking into the future. Stock prices are at all time high, but there is still money to be made and risks are much lower than with cryptos.
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Senior Member
Posts: 2886
Joined: 2013-03-10
Yeah, not very shocking or unexpected news. Graphics cards are so expensive right now that they mainly attract miners, who can earn the money back. Some also choose to pay the scalper price by first selling their old card, assuming it still carried so value, thus compensating for the high price of the new card. Of course there are also unfortunate people who lost their old card to a malfunction and had no choice. I imagine some of these people became sunday miners to try to recoup the lost money. Nevertheless, every card sold at the current prices feeds the crypto scheme.