Chinese miners are selling video cards in the secondary market – Bits Media

Tightening regulatory policy on miners and massive closure of mining enterprises in China led to a sale in the secondary market of video cards, used for mining cryptocurrencies.

ские майнеры начали распродавать бывшие в use of a video card in the secondary market. This is due to the bans on mining in China, allegedly caused by government concerns about the environmental harm of mining cryptocurrencies. Over the past month and a half, there have been more and more new announcements for the sale of video card stacks on Xianyu, one of the largest apps in the used market in China., принадлежащем .

Хотя комментарий Госсовета Китая касался конкретно операций по торговле и майнингу , provincial governments target the broader mining sector and ordered power plants to stop supplying farms, mining cryptocurrencies.

As a result, mining on video cards also suffered., although it is less energy consuming, than -mining. In particular, после действий китайского правительства хешрейт а упал более чем на 20%, поскольку большая часть мощности хеширования сети зависит от видеокарт в дополнение к -майнерам Ethash.

Although not all sellers on Xianyu disclose, what video cards were used for mining, images of shelves with GPUs give out the previous assignment of video cards. Now the situation in the secondary market has changed dramatically compared to the beginning of the year., when the offer of desktop graphics cards was so low, that Chinese mining farms began to use gaming laptops for mining.

Bulk sale

According to one of the ads, the owner is trying to sell a batch of RTX graphics cards 3060 from various brands with starting prices from 2 200 to 2 899 yuan (from $336 to $450) for each. However, the seller reduced the price to 1 760 yuan ($270) after that, how more 60 potential buyers have placed bids at much lower prices.

“I only accept personal transactions for large bulk purchases and sell only after, how the object will be completely disassembled ", - wrote the owner in a message with a photo of the mining farm.

Chinese miners are selling video cards in the secondary market - Bits Media

Another owner of video cards, who posted an ad within the last 30 days, also wrote, that RTX series GPUs 30 are on sale at a discount 50%, but buyers have to pick them up at the Yarlung Tsangpo power plant area.

Chinese miners are selling video cards in the secondary market - Bits Media

Third seller posted an ad for gaming laptops with integrated RTX graphics a month ago 3060 for about $1 000 for every. However, several users commented on the ad and noted, that even half the bid price would be too high, and they are willing to pay no more $461 per device.

Chinese miners are selling video cards in the secondary market - Bits Media

Stay alive

я по всему, not all miners have stopped working - small mining farms still work in Sichuan. They use electricity, directly supplied from hydroelectric power plants. During the last 30 дней как минимум два владельца рекламировали на Xianyu свои услуги хостинга для майнинга с ценой электроэнергии 0.37 yuan ($0.057) per kWh.

“Electricity supply is available until then, while you see this ad. The farm is powered directly from the power plant ", - wrote one of the owners.

Chinese miners are selling video cards in the secondary market - Bits Media

The second hosting provider also reported, that the mining enterprise is powered by a hydroelectric power plant. This direct sourcing model has always been prevalent, but the "gray" practice in the provinces of China Sichuan and Yunnan, hydropower-rich, as it bypasses China's state grid as an intermediary for power distribution.

Recall, that recently the CEO of Galaxy Digital Michael Novogratz (Michael Novogratz) stated, that mining bans in China will not harm bitcoin and will only make the industry healthier and stronger.