Basically, Bitcoin breaks down like this:
There are a limited number of Bitcoin. The way you "mine" a Bitcoin is by using a computer to solve a very large, very elaborate equation. In the beginning, people were using simple desktop computers to try to mine it with limited success.
The more Bitcoin were "mined", the harder and more elaborate they made the equations. So then people started building bigger and bigger rigs. One of the easiest ways to increase your computing power was installing multiple high-memory GPU's.
So then the Bitcoin miners started buying up every GPU they could that had 8 GB of RAM or more, and the more powerful the GPU, the better. They would buy up dozens of them at a time and build multiple rigs working in conjunction with each other to mine Bitcoin.
Over the last two years, it got completely out of hand to the point some companies were buying up HUNDREDS of GPU's at a time. All of a sudden, a RTX 3060 12GB card that had a MSRP of $325.00 was selling for over $600.00. What's more, people like you and me were told they were "out of stock" all the time because companies didn't want to sell you one card today and sell me one card next week.
They got greedy. They were holding all of the cards (pun intended) and selling mining companies 150 cards at a time. Screw you and me. We didn't matter.
Bitcoin hit it's height November 12th, 2021 at $64,400.00 per Bitcoin.
Presently it is worth $20,000.00 - a decrease of 69% in just the last 7 months.
So now all those companies that kept expanding their mining operations aren't making enough money to even run all the rigs they presently have, let alone build and expand to new ones.
And of course now that they're not buying anymore and many of them are going bankrupt having lost everything they had, INSTANTLY the video card companies are back begging us to buy their cards as if nothing ever happened.
That's why I'm waiting until my birthday (October) to buy a new GPU. I'll go ahead and bet I'll be able to pick up a RTX 3060 TI for around $325.00 by then.