Chinese market GPU prices are falling amid cryptographic repression

Chinese market gpu prices are falling amid cryptographic repression

GPU prices in China have fallen by as much as 45% following Sichuan Province’s order to stop cryptocurrency mining operations. Sichuan, which has abundant and cheap hydroelectric power, was one of the last paradises for cryptocurrency miners in a country that has become increasingly hostile to digital currency. Expensive high-end charts have seen little decline, but mid-range and cheaper charts have experienced sharp declines ranging from 25% to 45%.

It’s a big drop in prices and a big drop in the Bitcoin mining rate, which spread to China due to the country’s generally cheap electricity provided by renewable sources in rural areas. In recent weeks, the provinces of Inner Mongolia and Xinjiang have banned cryptocurrency mining. The Sichuan government has ordered local electricity companies to look at customers' energy consumption and report above-average consumers by June 25 later this week.

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