Nvidia GPU prices in China are falling amid the crackdown on crypto mining

Amid the continuing crackdown on crypto mining in China, graphics card prices from important GPU vendors like Nvidia and Asus are getting less expensive.

According into a report by the South China Morning Post (SCMP) on Monday, prices of some graphics cards on Chinese e-commerce platforms dropped as much as two-thirds later Sichuan Province shut down mining operations.

Asus’ flagship RTX 3060 card is thought to have fallen to 4,699 Chinese yuan ($730) on Monday, from its May summit of 13,499 yuan ($ 2,100) on the site of the online JD.com-operated Dealer’s Tmall.

SCMP reports that Nvidia’s Quadro P1000 in a JD.com franchise shop has dropped to 2,429 yuan ($380) from a high of approximately 3,000 yuan ($470) at the start of month , SCMP reported under Appeal to the e. Tracked Price Changes -Commercial Data Provider Manmanbuy.

The price drop is in line with a enormous sell-off in the crypto market, with Bitcoin (BTC) falling to $32,500 amid another FUD wave in China.

Connected: Bitcoin hash rate strikes 8-month low as Chinese miners shut down

On Monday, the Chinese central bank reiterated the nation’s crypto trading ban and allegedly urged banks and payment associations to suspend services for balances linked to cryptocurrencies.

After banning cryptocurrency trading in 2017, the Chinese government recently took a tougher position on cryptocurrencies and found massive crackdown on cryptocurrency mining. The latest news follows a series of mining bans in several important crypto mining hubs in China, including hydropower provinces like Sichuan and Yunnan. The government in Xinjiang, Inner Mongolia and Qinghai have also arranged the closure of mining operations.