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.

By Jamie Crawley

Jul 7, 2021 at 10:21 a.m. UTC

Updated Sep 14, 2021 at 1:21 p.m. UTC

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

Jamie Crawley

Join the most important conversation in crypto and Web3 taking place in Austin, Texas, April 26-28.

Secure Your Seat

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.

The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.

Jamie Crawley

Learn more about Consensus 2023, 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.

Jamie Crawley