Chinese Miners Started to Sell Their Graphics Cards!

Chinese miners started to sell their graphics cards! Miners are selling their graphics cards on second-hand market.

After the Chinese government's drastic ban on cryptocurrency mining, some miners have transferred their operations abroad, while others have begun to sell their used video cards. A considerable number of used graphics cards are for sale on Xianyu, one of the largest used sales platforms in China. Xianyu, owned by AliBaba, currently has a significant number of mining equipment sales advertisements. Most of the ads have been on sale since mid-May.

Chinese Government Suspended Activities

Demanding the cessation of cryptocurrency mining operations, the Chinese government warned that electricity to mining farms would be cut off. While the decision in question dealt a hard punch to Bitcoin mining, there was a serious loss in Bitcoin hash power due to devices that were closed or moved. Among the devices sold are video cards, as well as equipment specially produced for mining such as WhatsMiner, Antminer and InnoSilicon.