The technological company KuantoKusta (KK), which presents itself as the largest price comparator in Portugal, reveals this Wednesday, March 3, that the cryptocurrency boom has triggered the demand for graphics cards in Portugal, having in February increased by 300% over the same month last year.
“Even with the growth of ‘e-commerce’ and confinement, these figures are much higher than what would be expected for the time, exceeding all estimates and causing a shortage of stock in a product already in shortage in the market”, warns Sara Sá, from KK’s marketing department.
The company recalls that graphics cards are very valuable for coin mining, that is, “to decipher their codes, in a process that requires a powerful machine to solve mathematical transactions in the shortest possible time and thus receive payments”, he explains the KK.
According to KK’s analysis, 85% of users looking for this type of product on its platform are men between 18 and 34 years old, but it is between 25 and 34 years old that they buy more.
“As a result of the impact of great demand, the average price of graphics cards exceeded 50% in some models, and today it costs up to two thousand euros”, highlights KK.
Through google trends, KK also found that “as of the end of last December, demand for the product has more than tripled and has been gaining more and more popularity, mainly thanks to the investment of public figures in the financial product”.
KK was founded in 2005 by the Pimenta brothers, emigrants in France, who came to Portugal with the desire to open a computer store.
While analyzing the prices practiced in the country, they were faced with the lack of a website that aggregated prices and allowed their comparison, so they decided to create the first price comparator in Portugal.
The Pimenta brothers – Paulo, Pedro and David – continue to control the company’s capital, which aims to be a leader in e-commerce in Portugal – a place that is currently occupied by Worten – and reach 25 million euros in turnover in 2025, thanks to new projects and resources in the portfolio.