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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.

Jul 7, 2021 at 10:21 a.m. UTC
Updated Sep 14, 2021 at 1:21 p.m. UTC

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.

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