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.

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

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.

Disclosure

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 Block.one; 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 consensus.coindesk.com to register and buy your pass now.