{"id":109954,"date":"2021-07-23T10:11:06","date_gmt":"2021-07-23T02:11:06","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=473486"},"modified":"2021-07-23T10:11:06","modified_gmt":"2021-07-23T02:11:06","slug":"shenzhen-crypto-mining-hardware-retail-hotspot-becomes-a-ghost-town","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2021\/07\/23\/shenzhen-crypto-mining-hardware-retail-hotspot-becomes-a-ghost-town\/","title":{"rendered":"Shenzhen Crypto Mining Hardware Retail Hotspot Becomes a Ghost Town"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

An iconic shopping outlet for Chinese crypto miners has fallen under an eerie shroud of silence as the nation\u2019s mining industry screeches to an abrupt halt. The Beijing-led crackdown on mining has seen many of the nation\u2019s key crypto mining provinces stamp out industrial mining, with further sanctions placed on crypto-related banking. All this has led to a sharp decline in hardware sales across the nation. World Finance Chain (via Jinse) reported that prices of certain pieces of mining hardware had fallen by up to 50%. The media outlet reported that graphics cards have become \u201cseverely unsaleable,\u201d to the extent that \u201cno one cares, even if prices are cut.\u201d While it was hard to even find graphics cards a few months ago, there now appears to be a surplus of GPUs, particularly with many looking to sell their hardware on the second-hand market. The report\u2019s author reported from the SEG Plaza in Shenzhen, the city\u2019s fifth-tallest skyscraper, located at the heart of the busy Huaqiangbei electronics district. The fifth and sixth floors of the plaza have traditionally been devoted to crypto mining hardware retail, and until very recently, were a veritable hive of activity. Just a few months ago, the plaza\u2019s mining retailers could only offer buyers empty boxes to look at, complaining that there simply were not enough GPUs available to meet demand \u2013 particularly as the global semiconductor crisis continues to bite. Now, the media outlet explained, the two floors have become something of a ghost town, despite the fact that plenty of stock is now sitting on their shelves. Some stall owners originally from other parts of the country have closed down their outlets for good and \u201creturned to their hometowns.\u201d In addition to plummeting GPU prices, mining-grade servers have fallen in price, also by around half. And the same goes for memory-related products. A few months ago, an enterprise-class 16T hard drive would have set a buyer back around USD 8,200, and such devices were \u201coften out of stock and had to be ordered in advance.\u201d Today, the price of that same 16T unit has fallen to just under USD 3,100. The outlet added the price drops were \u201cinseparable\u201d from China\u2019s \u201ctightening of mining policies\u201d and \u201cincreased strengthening of regulation in the mining sector.\u201d It concluded that the end of the mining industry in China was now a \u201cforegone conclusion.\u201d ____ Learn more: \u2013 Bitcoin Mining Difficulty Drops to June 2020 Level \u2013 China\u2019s Global Bitcoin Hashrate Was On Decline Before Crackdown \u2013 Here\u2019s What China\u2019s Bitcoin Mining Crackdown 2.0 Looks Like \u2013 China Is Not Done Yet With Its Crackdown On Crypto Mining \u2013 Researcher Credit: Source link<\/p>\n

This data comes from MediaIntel.Asia's Media Intelligence and Media Monitoring Platform<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

An iconic shopping outlet for Chinese crypto miners has fallen under an eerie shroud of silence as the nation\u2019s mining industry screeches to an abrupt halt. The Beijing-led crackdown on mining has seen many of the nation\u2019s key crypto mining provinces …<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65,144,671,138,194,1002,954],"tags":[5567,7705,10424,3472,10333,3312,6823,10332,6811],"class_list":["post-109954","post","type-post","status-publish","format-standard","hentry","category-beijing","category-china","category-finance","category-guangdong","category-news-chinese-law","category-retail","category-shenzhen","tag-bitcoin","tag-blockchain","tag-china-general-news","tag-chinese","tag-crypto","tag-electronics","tag-fintech","tag-sanctions","tag-semiconductor"],"_links":{"self":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/109954","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/users\/253"}],"replies":[{"embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/comments?post=109954"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/109954\/revisions"}],"predecessor-version":[{"id":109960,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/109954\/revisions\/109960"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=109954"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=109954"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=109954"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}