Anhui became the last Chinese province to ban cryptocurrency mining completely, and now there is no single region left in the country where mining is allowed. Local authorities said the move would help alleviate severe power shortages over the next three years.
Thus, the mining of cryptocurrency is now completely prohibited in China. In the very near future, most likely, all active farms in the country will stop working. Chinese miners have already begun to massively sell video cards after strict restrictive measures by the authorities.
Against the background of this news, the bitcoin rate fell slightly. From this week’s peak value of $ 33 thousand, it fell to $ 31.6 thousand. Other cryptocurrencies also fell in price, including Ethereum. This week it reached the level of $ 2.4 thousand but is now trading at $ 1.9 thousand.
Nevertheless, it may be too early to expect the appearance of “adequate” prices for video cards. Earlier, the authoritative technology portal HardwareTimes, citing an insider from China, said that one should not expect a continuation of the decline in prices for video cards in retail soon. NVIDIA allegedly decided to suspend new generation video cards based on Ampere to its partners until the end of July / beginning of August. The reason for this step is that NVIDIA does not want to repeat the situation in the summer of 2019, when, due to the fall of cryptocurrencies, there were many video cards in the secondary market, and their prices dropped sharply. The company does not want the supply to begin to exceed the demand greatly.