Bitcoin volatility rocks China’s graphics card market, pushing vendors to demand same-day purchases of dwindling supply

Demand for GPUs is surging amid a global chip shortage, with prices in Huaqiangbei, the world’s largest electronics market, changing along with bitcoin. GPUs, typically made for gamers, are useful for cryptocurrency mining, but the high energy consumption is frustrating China’s energy-saving push. — SCMP

Volatile bitcoin prices are wreaking havoc on the prices of graphics cards in Huaqiangbei, the world’s largest electronics market located in Shenzhen, preventing buyers from making advanced purchases.

Vendors are telling customers looking for high-end graphics processing units (GPUs) that they will only discuss prices for immediate purchases or depending on the size of the deal. Amid a global chip shortage and rising demand, many vendors are left with just a few dozen GPUs in stock, making it a tough seller’s market. One seller refused to even give a price quote unless customers committed to making a purchase that day.