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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.
The bitcoin mining crackdown in China is prompting miners to dump their graphic processing units (GPUs) on the secondhand market, according to The Block.
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- 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.
Read more: China’s Bitcoin Mining Crackdown Is a Boon for Miners Elsewhere
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
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