November 23, 2024

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[THE INVESTOR] Demand for graphics cards in Korea has skyrocketed on the cryptocurrency trading fever, data showed on Jan. 15. 

Sales of high-quality graphics cards used for online games and cryptocurrency mining rose 88 percent on-year in December on eNuri, a leading e-commerce site for electronic products. During Jan. 1-11, sales shot up 282 percent on-year, and the numbers are expected to further grow. 

In particular, Zotax’s GeForce 1060 and 1070ti, which made up nearly half of eNuri’s total graphics card sales in December, were touted for their high performance in mining Bitcoin and Ethereum, according to the sales platform. Prices have been soaring as well, with the popular Zotac GeForce GTX 1060 model, which was priced at 268,000 won (US$251.92) in early December, now worth 353,000 won to reflect a 30 percent hike. 

Chinese Bitcoin miners have also purchased graphics cards at Korean websites, causing a supply shortage. 

“Rising cryptocurrency prices, coupled with the upcoming Lunar New Year holiday when many appear to be planning to take time off for some serious mining, are spiking the demand for high-specification graphics cards,” said an eNuri spokesman. “We expect to see a price increase for graphics cards and other related parts.”

The sales of the riser card, which is used to connect the graphics card to the mining computer, also surged exponentially. Last year, riser card sales climbed eightfold from 2016, according to the firm. In December alone, sales rose 16 times compared to the same period in 2016.

By Ahn Sung-mi (sahn@heraldcorp.com)