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<h2 id="header-0">The Ethereum network&#39;s transition to a proof-of-stake (PoS) consensus mechanism is driving institutional investor adoption.</h2>As a result, prices for GPUs, which are frequently used for mining cryptocurrencies such as ETH, have plummeted in China.As per a report published by a local media outlet, following the historic Ethereum Merge on September 15, the previously sought Nvidia GeForce GPUs have become much cheaper. Peng, a Chinese merchant, used the RTX 3080 as an example, stating that the GPU&#39;s price dropped from $1118 (8,000 yuan) to 5,000 yuan in three months.According to Peng, when <a href="https://www.coingabbar.com/en/crypto-blogs-english/crypto-mining-impacting-environment" rel="noopener noreferrer nofollow">Bitcoin mining</a> was at its peak in China, mining companies went on GPU shopping sprees. However, the merchant stated that no one is currently purchasing new computers, they are currently focusing on new GPUs.Another merchant named Liu mentioned that low-end RTX 3080 cards from manufacturers such as MSI had also dropped in price by roughly 2,000 yuan. Liu stated that the buzz around the Ethereum Merge might have a significant impact.Lower demand has an impact on more than just in-store merchants. GPU prices have also dropped on online shopping portals Taobao and JD. Prices for RTX 3080 cards on these platforms have gradually dropped by a few hundred yuan compared to three months ago.Following the <a href="https://www.coingabbar.com/en/crypto-blogs-english/ethereum-a-brief-analysis-of-the-upcoming-update" rel="noopener noreferrer nofollow">Ethereum Merge</a>, the blockchain drifted away from its energy-intensive PoW mechanism to the PoS layer called the Beacon Chain. With this, miners who used to process transactions and create blocks are replaced by ecosystem players who stake ETH to become the network&#39;s new validators.Meanwhile, ETHPoW, a PoW fork, became online as the Merge commenced. However, despite its efforts to retain the PoW consensus, it had technical difficulties when it started, causing the price of its ETHW token to drop by 65%.Read also: <a href="https://www.coingabbar.com/en/crypto-currency-news-english/trading-guru-identifies-perfect-spot-to-buy-cardano" rel="noopener noreferrer nofollow">Trading Guru Identifies Perfect Spot to Buy Cardano</a>

China GPU Prices Hit New Lows After The ETH Merge

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