Prices of GPUs Fall, Supply Increases as China Cracks Down on Crypto Mining

Computer hardware sites are beginning to see GPU stocks come back to pre-pandemic levels while prices have dropped 5%-10%.

AccessTimeIconJun 21, 2021 at 7:09 a.m. UTC
Updated Sep 14, 2021 at 1:14 p.m. UTC
10 Years of Decentralizing the Future
May 29-31, 2024 - Austin, TexasThe biggest and most established global event for everything crypto, blockchain and Web3.Register Now

Prices of graphics processing units (GPUs) are starting to come back down to Earth after reports China has begun cracking down on crypto mining in the province of Sichuan.

According to a report by the South China Morning Post on Monday, prices for GPUs have fallen by as much as two-thirds on e-commerce platforms following the crackdown. While the development is tentative for miners, gamers, who have long been locked out of buying the newest cards due to global supply shortages, are rejoicing.

On Friday, the Sichuan branch of the National Development and Reform Commission and the Sichuan Energy Bureau issued a decree to crack down on crypto mining operations. The region is particularly important as it is one of the largest hydro-based crypto mining hubs in China.

Local computer hardware sites in Australia, including Scroptec and Umart, are beginning to see GPU stocks resume back to pre-pandemic levels while prices have dropped 5%-10%.

Throughout 2020, prices on GPUs rose to astronomical heights resulting from skyrocketing demand as people were forced to work from home as a result of COVID-19. Stocks of the cards across e-commerce sites were sold out for months at a time.

Demand for cryptocurrency and the resulting price rises also led miners to seek out the latest cards in a bid to tap into the craze. The problem has gotten so out of hand it prompted Nvidia to implement a feature known as "lite hash rate," designed to limit the GPUs' use for crypto mining.


Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Learn more about Consensus 2024, CoinDesk's longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to to register and buy your pass now.