{"id":109962,"date":"2021-07-23T10:09:53","date_gmt":"2021-07-23T02:09:53","guid":{"rendered":"https:\/\/www.mediaintel.asia\/?p=473482"},"modified":"2021-07-23T10:09:53","modified_gmt":"2021-07-23T02:09:53","slug":"shenzhen-crypto-mining-hardware-retail-hotspot-becomes-a-ghost-town-3","status":"publish","type":"post","link":"https:\/\/www.chinalegalblog.com\/en\/2021\/07\/23\/shenzhen-crypto-mining-hardware-retail-hotspot-becomes-a-ghost-town-3\/","title":{"rendered":"Shenzhen Crypto Mining Hardware Retail Hotspot Becomes a Ghost Town"},"content":{"rendered":"
\"MediaIntel.Asia\"<\/a><\/div>\n

Follow us on Twitter or join our Telegram Shenzhen Crypto Mining Hardware Retail Hotspot Becomes a Ghost Town July 23, 2021 Source: Adobe\/Photocreo Bednarek
\nAn 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.
\nThe 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.
\nAll 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
\nWhile 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.
\nThe 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.
\nThe 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 .
\nNow, 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.
\nSome stall owners originally from other parts of the country have closed down their outlets for good and \u201creturned to their hometowns.\u201d
\nIn addition to plummeting GPU prices, mining-grade servers have fallen in price, also by around half. And the same goes for memory-related products.
\nA 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.
\nThe 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
\nIt concluded that the end of the mining industry in China was now a \u201cforegone conclusion.\u201d ____<\/p>\n

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

Follow us on Twitter or join our Telegram Shenzhen Crypto Mining Hardware Retail Hotspot Becomes a Ghost Town July 23, 2021 Source: Adobe\/Photocreo Bednarek
\nAn iconic shopping outlet for Chinese crypto miners has fallen under an eerie shroud of silenc…<\/p>\n","protected":false},"author":253,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[65,144,671,138,194,1002,954,465,1242],"tags":[5567,7705,10424,3472,10333,3312,6823,10332,6811],"class_list":["post-109962","post","type-post","status-publish","format-standard","hentry","category-beijing","category-china","category-finance","category-guangdong","category-news-chinese-law","category-retail","category-shenzhen","category-social-media","category-twitter","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\/109962","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=109962"}],"version-history":[{"count":1,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/109962\/revisions"}],"predecessor-version":[{"id":109963,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/posts\/109962\/revisions\/109963"}],"wp:attachment":[{"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/media?parent=109962"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/categories?post=109962"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.chinalegalblog.com\/en\/wp-json\/wp\/v2\/tags?post=109962"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}