Last updated on 5 July 2022
The rising popularity of crypto mining has increased exponentially over the past decade due to cryptocurrency becoming a huge trend and taking up the market share of graphics cards.
People are more commonly looking at purchasing used mining GPUs due to the increased demand and cost involved in buying new ones.
Unfortunately, if you’re into crypto mining, it can be quite a costly and risky investment due to the sheer cost of cards these days as well as the increased demand and availability for the hardware that’s out there.
With that said, buying used GPUs is an alternative that can be chosen although is it really a good idea to do this? We’ll explain further whether it’s really a good idea to buy mining GPUs.
What could work well if you buy used mining GPUs
Many people who are getting into crypto mining prefer to buy used mining GPUs since the cost of deploying a mining rig with several dozens of brand new GPUs can be incredibly costly.
In addition, although a used GPU might be less reliable and potentially slower (albeit only a little) than a newer one, the difference between it and a new one can still be negligible.
Especially with the price of brand new GPUs these days, it can be very difficult to convince yourself if your PC upgrade is worth the triple and sometimes quadruple figure price tag.
This reason might be convincing enough to enable you to buy a used one, as long as you’re willing to take the risk.
What could go wrong if you buy used mining GPUs?
It’s never guaranteed that GPUs will work to your expectations since you can come across ones which are too old and overused.
You can buy a used graphics card from someone who is upgrading their rig, or you can purchase cards from old mining rigs.
People usually sell these through eBay and other similar sites. Although we don’t recommend this as the cards are usually unreliable once used for extensive crypto mining.
Unfortunately, if you decide to choose the latter you run the risk of receiving a faulty card and no warranty to replace it with.
If purchased through somewhere like eBay and not described accurately in the item description you run the risk of losing money on your purchase, which, in the case of graphics cards, can be quite a lot of money.
Some of the common problems with used mining GPUs
The trouble involved in buying an older graphics card isn’t like buying a new one. You have to worry about both hardware and software issues.
Examples of these issues can come along in many forms, usually relating to heating or cooling.
When GPUs are used for mining consistently, they run the risk of receiving thermal damage over time which can potentially throttle the GPU. This will reduce performance and drastically reduce the lifespan of your GPU.
For those unaware, throttling is essentially where the GPU resorts to reducing performance as a way of cooling down.
Used mining GPUs also run the risk of coming pre-overclocked by the previous owner. This can result in the card heating up too quickly for your setup. Depending on the type of cooling system you have installed on your setup of course.
Buying a new GPU is often the better choice because of the surety of a warranty and the longer shelf life. It will, in almost every case ensure maximum performance out of the box when it comes to editing or playing games with your new fancy graphics card.
In case you’re not sure what to look for, here’s a thorough video guide to help you: