fbpx
Skip to content Skip to sidebar Skip to footer

PC Graphic Cards Dropped by Almost 60% in Price After Ethereum Merge

CleanSpark clean bitcoin mining

GPU costs have fallen sharply, by about 60%, as a result of the Ethereum Merge blockchain upgrade, which converted the blockchain into a Proof-of-Stake consensus system. Chinese merchants claimed the equipment’s prices have now reached their “lowest level ever.”

The South China Morning Post reported that local vendors of GPUs that were once in high demand by cryptocurrency miners, such as those employing Nvidia’s GeForce RTX 3080, RTX 3080 Ti, and RTX 3090, previously requested up to quadruple their suggested retail costs.

Individuals looking to purchase an RTX 3080 in mainland China will be expected to fork out roughly $700 (RMB 5,000). The same equipment cost them around $1,100 (RMB 8,000) three months ago, according to a local electronics retailer.

In the wake of China’s Bitcoin crackdown, the costs of consumer GPUs made by well-known companies like Nvidia and AMD were also falling. There is a possibility that a recent research that indicates Bitcoin mining revenue is about to reach an all-time low may have something to do with this.

The Cyberspace Administration of China launched another attack in August of last year as part of Beijing’s campaign against online cryptocurrency trading, closing 12,000 accounts.

About 51,000 posts were removed, and 105 websites were taken offline for allegedly hosting “cryptocurrency marketing” materials such as tutorials outlining how Chinese citizens can participate in cross-border transactions and instructing local readers on how to operate crypto mining in the face of the crackdown.

The People’s Bank of China (PBoC) launched a crackdown in 2021, although talks centred on cryptocurrencies are still common on popular Chinese social media sites.

Leave a comment

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain & crypto news provider, covering daily news focused on trading and investment developments in bitcoin and crypto. We bring you expansive crypto news coverage around the world. We offer many thought leadership opinions from blockchain experts and leaders of the industry.

Subscribe to SCN

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

111 North Bridge Road, 21-01, Peninsula Plaza, Singapore 179098.

Phone: +65-80282938

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us

About SuperCryptoNews

SuperCryptoNews is a global leading blockchain and crypto news provider, covering daily news on the latest tech and trading developments in crypto. We bring you expansive crypto news coverage especially in Asia, with a focus on Singapore, Thailand and Southeast Asia.

Follow Us On

© Copyright of Novum Global Consultancy Pte Ltd {2020, 2021}. All rights reserved.

Contact Us   |   T&Cs   |   Privacy Policy   |   About Us