GPU prices in China drop after lockdown on crypto mining

Good news for PC builders and gamers, as the past few weeks are looking grim for scalpers and miners.

The Chinese government earlier this year imposed a ban on anything that involves cryptocurrency, including transactions, and warned people of the risks of using them for payments.

Some of the best graphics cards for gaming, and Nvidia's GeForce RTX 30-series (Ampere) cards have become very popular for cryptocurrency mining.

This series of crackdowns on crypto by China has heavily affected crypto miners as the country has almost 75 percent of the world’s bitcoin mining capacity, and the latest generation of graphics cards are the main source of crypto currencies.

According to Tom’s Hardware’s analysis, there has been at least a 5 percent reduction on the MSI GeForce RTX 3080 Ti Gaming X Trio which dropped more than $100 on its price.

The MSI GeForce RTX 3070 Gaming X Trio recently had a 24 percent reduction in its price as it dropped from $1,624 to $1,237 on the Chinese market.

Colorful’s iGame GeForce RTX 3060 Ultra OC saw a 33 percent reduction on its price as it fell from $1,121 to $711.

The Asus TUF Gaming GeForce RTX 3060 OC Edition has experienced the biggest price reduction on the market with 45 percent as it plunged from $1,531 to $835.

China was an oasis for cryptocurrency operations and transactions thanks to its cheap electricity rates.

Graphics card pricing has also plummeted in Europe, but this does not mean that the immediate stabilization of the graphics card market as companies are still facing a semiconductor shortage.

(Images from Nvidia)