The Ethereum network's transition to a proof-of-stake (PoS) consensus mechanism is driving institutional investor adoption.
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's price dropped from $1118 (8,000 yuan) to 5,000 yuan in three months.