The planned PoS migration of the Ethereum blockchain has caused the prices of graphics cards to plummet. In Ethereum, which will switch from PoW consensus to PoS consensus, GPU mining will no longer work. Prices for graphics cards have dropped 39% since May 2021.
Is GPU Mining Ending?
GPU crypto miners account for 35% of consumer demand for GPUs. Miners, who have been avoiding investing in new equipment recently because the prices have been high for a while, are now not buying new graphics cards because Eth 2.0 is approaching.