Nvidia GPU prices in China fall amid crypto mining crackdown

CoinTelegraph

Amid the ongoing crackdown on cryptocurrency mining in China, prices of graphic cards from major GPU providers like Nvidia and Asus are becoming more affordable. 

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 after Sichuan province terminated mining operations.

How To Get Free Crypto  

Asus’ flagship RTX 3060 card was reportedly 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 site Tmall.

Nvidia’s Quadro P1000, a less advanced card, dropped to 2,429 yuan ($380) on a JD.com franchise store, down from a peak of about 3,000 yuan ($470) in early May, the SCMP reported, citing price changes tracked by e-commerce data provider Manmanbuy.

The price downturn aligns with a major sell-off on the cryptocurrency market, with Bitcoin (BTC) tumbling to $32,500 amid another wave of FUD in China.

Related: Bitcoin hash rate hits 8-month low as Chinese miners power down

On Monday, China’s central bank reiterated the country’s ban on cryptocurrency trading, reportedly urging banks and payment institutions to halt services for accounts associated with crypto trading activity. 

Coinbase Banner  

After banning crypto trading back in 2017, the Chinese government has been toughening its stance on crypto recently, launching a major crackdown on cryptocurrency mining. The latest news follows a series of mining bans in several major crypto mining hubs in China including hydropower-based provinces like Sichuan and Yunnan. Authorities in Xinjiang, Inner Mongolia and Qinghai have also ordered mining operations to shutter.

Go to Source
Author: Helen Partz


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.