Valve has announced that the supply of physical Steam Link hardware devices is sold out. Whether the company is working on a new iteration or if it will discontinue the product entirely is still unknown.
The Steam Link was released in November 2015 when Valve also introduced Steam Machine hardware. Over the years it has seen numerous flash sales, indicating that the company was sitting on a significant number of units.
A year before the release of Steam Link, Google's Chromecast streaming stick started becoming popular in households worldwide, but didn't officially support game streaming to TVs.
While Steam Link provided high quality and low latency game streaming via the local network, newer smart TVs allowed Valve to provide the same experience through native apps instead, rendering the Steam Link obsolete for those who already purchased modern TVs.
Earlier this year Valve also released the Steam Link app for Android and iOS devices, allowing games to be streamed to mobile devices directly. However, Apple removed the iOS version from their App Store not much later citing business and guideline conflicts.
The last remaining stock was sold during the hardware's last flash sale yesterday through which Valve sold the device for just $2.50 US excluding shipping cost.
In a recent announcement, Valve states that it "intends to continue supporting the existing Steam Link hardware as well as distribution of the software versions of Steam Link". This could indicate that Steam Link hardware will not be coming back in stock at all.