Graphic card prices plummeted, due to tightening Bitcoin regulations in China



Bitcoin prices have fallen sharply as China tightened regulations on cryptocurrency trading and mining, but as a result,

the price of graphic cards , which are components for PCs, plummeted in China. It has been reported.

Bitcoin crackdown sends graphics cards prices plummeting in China after Sichuan terminated mining operations | South China Morning Post
https://www.scmp.com/tech/policy/article/3138130/bitcoin-crackdown-sends-graphics-cards-prices-plummeting-china-after

Clampdown On Crypto Mining Cuts China's GPU Prices Nearly 45 Percent | Tom's Hardware
https://www.tomshardware.com/news/china-clampdown-crypto-mining-gpu-prices-plunging

While the value of Bitcoin has skyrocketed over the past year, it has been pointed out that it consumes a large amount of electricity when mining. For this reason, the Chinese government announced in May 2021 a policy to ban Bitcoin trading and mining because it conflicts with the 'carbon neutral' policy. Bitcoin prices have fallen sharply following tightened crackdowns in China, which is believed to produce up to three-quarters of the world's Bitcoin supply. The price, which had risen to nearly 7 million yen in April 2021, was about 3.98 million yen on May 19, immediately after China announced its policy, and was about 3.59 million yen as of June 22. It has become.



In fact, China is cracking down on cryptocurrencies, cleaning up SNS accounts that explain cryptocurrencies, and in Sichuan province, 26 mining projects have been requested by authorities to close by June 20th. It is said that Sichuan Province has a lot of hydroelectric power generation and was the second mining area in the world.

Chinese officials have asked local governments in Sichuan to investigate cryptocurrency mining, shut down mining projects, and ban new projects. In response, the state utility will immediately shut down the power supply for the reported mining projects.

China's cryptocurrency-mining crackdown spreads to Sichuan | Reuters
https://www.reuters.com/technology/chinas-cryptocurrency-mining-crackdown-spreads-sichuan-2021-06-19/

Bitcoin Price Extends Drop After China Intensifies Crypto Crackdown --WSJ
https://www.wsj.com/articles/china-orders-ant-group-state-banks-to-root-out-cryptocurrency-related-activities-11624282695



As Bitcoin prices have fallen, the prices of graphics cards used to increase the efficiency of Bitcoin generation in mining have also fluctuated. High-performance graphics cards were originally used for video games, but their prices have risen since they were used for mining. However, according to the South China Morning Post, the price of the NVIDIA Quadro P1000 on the e-commerce platform is regulated from 3000 yuan (about 51,000 yen) to 2429 yuan ( 41,400 yen), and the Asus RTX 3060 is 13,499 yuan. It has dropped from (about 230,000 yen) to 4699 yuan (about 80,000 yen).

Also, according to an analysis by technology site Tom's Hardware, there was a difference in the amount of price decrease depending on the type of graphic card, and it seems that the upper model did not have a big price drop and the midrange price drop was large. Below is a table showing the price fluctuations of graphics cards in China.

Graphic card May price Price as of June 22 Decrease rate
MSI GeForce RTX 3080 Ti Gaming X Trio $ 2,273 (about 251,000 yen) $ 2,165 (about 239,000 yen) Five%
MSI GeForce RTX 3070 Gaming X Trio $ 1624 (about 179,000 yen) $ 1237 (about 136,000 yen) twenty four%
Asus TUF Gaming GeForce RTX 3060 OC Edition $ 1531 (about 169,000 yen) 835 dollars (about 92,000 yen) 45%
Colorful iGame GeForce RTX 3060 Ultra OC 1121 dollars (about 124,000 yen) $ 711 (about 78,000 yen) 33%


In addition, Tom's Hardware reports that the price of graphic cards is plummeting not only in China but also in Europe.

in Hardware, Posted by darkhorse_log