Share this article
China's Crackdown Is Forcing Miners to Dump GPUs on Secondhand Market: Report
The number of listings on China's most prominent marketplace apps has increased in the last month and a half.
Updated Sep 14, 2021, 1:21 p.m. Published Jul 7, 2021, 10:21 a.m. 1 min read
The bitcoin mining crackdown in China is prompting miners to dump their graphic processing units (GPUs) on the secondhand market, according to The Block.
- The number of listings on China's most prominent marketplace apps has increased in the last month and a half, The Block reported Wednesday.
- Prospective sellers are having to lower their asking prices in a bid to sell the units.
- The trend is a reversal from earlier this year, when supply of GPUs was more strangled and Ethereum miners started turning to gaming laptops with built-in GPUs, much to their manufacturers' chagrin.
- Despite the crackdown on bitcoin mining in China, there are signs that smaller mining farms in the Sichuan province are still operating with a direct supply of electricity from hydropower plants, The Block said.
Read more: China’s Bitcoin Mining Crackdown Is a Boon for Miners Elsewhere
More For You
U.S. stocks and bonds, and the oil market are reacting positively to yet another purported peace agreement, but crypto markets remain under heavy pressure.
What to know:
- Markets reacted to a reported draft deal and recent U.S. airstrikes near the Strait of Hormuz by pushing stocks and bonds higher and oil lower, while bitcoin continued to slide.
- The Fed’s preferred inflation gauge, the PCE index, rose to 3.8 percent in April, its highest level since 2023, intensifying...
Top Stories
