Graphics card prices in China reportedly dropped as much as two-thirds on Chinese e-commerce websites.
Amid the ongoing crackdown on cryptocurrency mining in China, costs of picture cards from leading GPU providers like Nvidia and Asus are getting more affordable.
According to a Monday report by South China Morning Post (SCMP), prices of some picture cards have tumbled as much as two-thirds on Chinese e-commerce platforms after Sichuan province terminated mining operations.
Asus’ flagship RTX 3060 card was down to 4,699 Chinese yuan ($730) on Monday from its peak price of 13,499 yuan ($2,100) in May on JD.com-operated online retail website Tmall.
Nvidia’s Quadro P1000, a less advanced card, fell to 2,429 yuan ($380) on a JD.com franchise shop , down from a peak of about 3,000 yuan ($470) in early May, the SCMP reported, citing price changes tracked by e-commerce data supplier Manmanbuy.
The price downturn contrasts using a major sell-off on the cryptocurrency market, together with Bitcoin (BTC) tumbling to $32,500 amid a second wave of FUD in China.
On Monday, China’s central bank reiterated the nation’s ban on cryptocurrency trading, allegedly urging banks and payment associations to stop services for accounts linked with crypto trading action.
After banning crypto trading back in 2017, the Chinese authorities was toughening its stance on crypto lately, launching a major crackdown on cryptocurrency mining. The most recent news follows a collection of mining bans in many major crypto mining hubs in China such as hydropower-based countries such as Sichuan and Yunnan. Police in Xinjiang, Inner Mongolia and Qinghai also have ordered mining operations .