Nvidia GPU Costs in China Decrease amid crypto mining crackdown

Graphics card prices from China allegedly dropped as much as two-thirds on Chinese e-commerce sites.
Amid the continuing crackdown on cryptocurrency mining in China, prices of graphic cards from major GPU providers such as Nvidia and Asus are becoming cheaper.  According to a Monday report by South China Morning Post (SCMP), prices of some graphic cards have tumbled as much as two-thirds on Chinese e-commerce platforms following Sichuan province stopped mining operations.Asus’ flagship RTX 3060 card has been down to 4,699 Chinese yuan ($730) on Monday from its peak price of 13,499 yuan ($2,100) in May on JD.com-operated online retail website Tmall.Nvidia’s Quadro P1000, a advanced card, fell to 2,429 yuan ($380) on a JD.com franchise shop , down from a peak of roughly 3,000 yuan ($470) in early May, the SCMP reported, citing price changes monitored by e-commerce data supplier Manmanbuy.The price recession aligns with a significant sell-off on the cryptocurrency marketplace, together with Bitcoin (BTC) tumbling to $32,500 amid a different wave of FUD in China.Related: Bitcoin hash speed hits 8-month reduced as Chinese miners power downOn Monday, China’s central bank reiterated that the country’s ban on cryptocurrency trading, also allegedly urging banking and payment institutions to halt services for accounts associated with crypto trading activity.  After banning crypto trading in 2017, the Chinese authorities was toughening its position on crypto recently, launching a significant crackdown on cryptocurrency mining. The latest news follows a string of mining bans in a number of major crypto mining hubs in China including hydropower-based countries such as Sichuan and Yunnan. Police in Xinjiang, Inner Mongolia and Qinghai also have organized mining operations .

Relevant news

Leave a Reply