NewsTechnologyTrends

GPU prices see sharp drop in China after Sichuan authorities shut down cryptomining operations

Share this article

[ad_1]

In context: Sichuan was previously China’s second largest haven for cryptocurrency mining operations, but it’s quickly turning into the opposite, as authorities seek to crack down on this type of activity. The region, along with other mining centers such as Inner Mongolia, Yunnan, and Xinjiang have already shut down some of the largest cryptomining farms in China, which is good news for both cryptocurrency enthusiasts and gamers.

One key factor contributing to the shortage of graphics cards is cryptocurrency mining. In our latest CPU & GPU availability and pricing update for June 2021, Tim explains how Ethereum mining in particular has become less profitable due to a combination of factors, and how that’s started to impact average prices for GPUs, which is now trending downwards after seeing record prices in May.

Last week, Asrock said graphics card prices would soon fall amid a plunge in demand from miners in China, while shipments of AMD cards are expected to improve significantly thanks to improvements in silicon fab capacity. This is now confirmed by a report from the South China Morning Post that shines more light into the state of cryptomining in the region.

In the last several months, Chinese authorities have brought the hammer down on mining activities across the country, which is why several big operations have been moving towards the Americas. According to a logistics firm in Guangzhou, no less than 6,600 lbs (3,000 kg) of mining hardware is being flown across the ocean to Maryland, US. Others are also eyeing Texas for its abundance of solar and wind power, as well as crypto-friendly policies.

Over the past week, China’s crackdown on cryptomining operations has expanded to the Sichuan province, where cheap hydropower had been a magnet for mining farms. Local authorities have told electricity providers to investigate their clients who could be using power for mining, and 26 operations have had the plug pulled on mining farms over the weekend.

Must read: What is cryptomining?

This may only be the beginning, however, as China’s Central Bank has asked Chinese banks and payment processors such as Alipay to avoid participating in the crypto sphere in any way, from opening accounts to facilitating transactions and settlements with cryptocurrencies.

GPU prices in China have seen a sharp drop over the last few days, with the average retail price for models such as the Asus RTX 3060 going from 13,499 yuan ($2,090) to 4,699 yuan ($730). Even professional, workstation graphics cards like the Nvidia Quadro P1000 went from 3,000 yuan ($464) to 2,429 yuan ($376). This trend is not as pronounced in other regions, but it’s great news for gamers everywhere.



[ad_2]
Source link

Tags: , , , , , , , , ,
Best Ring deals of Prime Day 2021: Ring doorbell bundle for $55 off, save $100 on Ring Alarm 8-piece kit
Air fryer deals for Prime Day: Ninja, Cuisinart and Cosori ovens on major discount


Best rewards credit cards for June 2021

iPhone 12 water test: How deep can Apple’s phone really go?

ASRock’s DeskMini Max concept houses AMD Ryzen, dGPU and liquid cooling in a 10L case

Fast and Furious 9 review: The Godfather II of Vin Diesel car crash movies

Nvidia is increasing supply of the RTX 3060 from next month

Nvidia is increasing supply of the RTX 3060 from next month

I switched from Android to iPhone and here’s what happened

iPhone 13 camera: The specs and features the rumors say we’ll see

Watch Microsoft

Watch Microsoft’s Windows 11 unveiling right here at 8am PT / 11am ET

Aliens could have already spotted Earth from over 2,000 different star systems

Earth-like worlds in the Milky Way may be a lot less common than we thought

You May Also Like

Menu