GeForce RTX 30 Prices Could Plummet Due To China’s Big Cryptomining Crackdown – Hot Hardware
Have you looked up the prices of graphics cards lately? Don’t do it, not unless you want to be depressed. We’re not talking about MSRPs, mind you, but jacked up pricing on the part of marketplace sellers and scalpers on eBay. Part of the reason is because of cryptocurrency mining, but following a crackdown in China, GPU prices might finally return to Earth.
That is the optimistic view, anyway (and probably too optimistic). However, China’s annoyance at cryptocurrency mining is very real, and its ban on mining digital currencies could have a tangible impact on the market at large, and others (like GPUs) that are associated with it. That’s because China has been a major hub for mining.
It is estimated that up to 75 percent of Bitcoin mining is done in China. As China begins to enforce its ban—turning its announcement into policy, in other words—cryptocurrency miners have begun to flee. It is conceivable that some of the smaller operations could give up mining entirely, though larger outfits will seek out a new place to get up and running again.
“We do not want to face every single year, some sort of new ban coming in China,” De La Torre, vice president of Hong Kong-headquartered mining pool Poolin, told CNBC. “So we’re trying to diversify our global mining hashrate, and that’s why we are moving to the United States and to Canada.”