China’s bitcoin ban affects access to graphics cards

The prices of graphics cards from Asus and Nvidia are plummeting on e-commerce platforms in China, since the country began to crack down on the mining of cryptocurrency such as bitcoin, reports the newspaper South China Morning Post.

The energy-consuming process has been criticized, not least by the environmental movement, and in three provinces in China, bitcoin mining has been banned.

Many developers use advanced graphics cards to make the calculations required to extract the cryptocurrency, which has contributed to shortages and increased prices. But the latest strikes mean that demand seems to be falling in China.

Among other things, the price of the advanced Asus RTX 3060 dropped from 13,500 yuan (17,700 kronor) in May to 4,700 (6,200 kronor) at the beginning of the week on Alibaba-owned Tmall, states the newspaper.

China’s increasingly restrictive view of the cryptocurrency also worries investors. On Tuesday, the price fell below 30,000 dollars for the first time in five months, just under 255,000 kronor.

Source: Nyteknik – Senaste nytt by

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