Bitcoin crackdown sends graphics cards prices plummeting in China after Sichuan terminated mining operations

Graphics cards from companies including Nvidia and Asus saw prices fall by as much as two-thirds on e-commerce platforms amid China’s sweeping Bitcoin crackdown. Sichuan, which relies heavily on renewable hydropower, has ordered cryptocurrency mining operations to close down, following Inner Mongolia and Xinjiang. — SCMP

China’s ongoing bitcoin mining crackdown has sent the price of graphics cards plummeting, making the critical component in mining operations much more affordable in the country but leaving miners with fewer places to set up shop.

The Nvidia Quadro P1000 model, an entry-level graphics card, was going for 2,429 yuan (RM1,558) on a JD.com franchise store on Monday morning, down from a peak of nearly 3,000 yuan (RM1,925) in early May, before the State Council’s financial watchdog vowed to crack down on bitcoin mining.