It is a shortage of supply. But cryptocurrency mining and value has a lot to do with that. Manufacturers struggle to adjust to the volatility in demand for the cards (which are used in mining) as it fluctuates with the value of cryptocurrencies.
"If you've looked for a new or used graphics card lately, the current going prices probably caused at least a raised eyebrow, maybe even three!" (8 days ago)
https://www.tomshardware.com/news/ethereum-effect-graphics-card-prices,34928.html
https://www.tomshardware.com/best-picks/best-mining-gpus-benchmarked-and-ranked
Riley Iron Ore Mine - Progress, Photos and Calculations, page-781
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