Shenzhen Crypto Mining Hardware Retail Hotspot Becomes a Ghost Town

[RSRS]

An iconic shopping outlet for Chinese crypto miners has fallen under an eerie shroud of silence as the nation’s mining industry screeches to an abrupt halt.

The Beijing-led crackdown on mining has seen many of the nation’s key crypto mining provinces stamp out industrial mining, with further sanctions placed on crypto-related banking.

All 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 “severely unsaleable,” to the extent that “no one cares, even if prices are cut.”

While 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.


The report’s author reported from the SEG Plaza in Shenzhen, the city’s fifth-tallest skyscraper, located at the heart of the busy Huaqiangbei electronics district.

The 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’s mining retailers could only offer buyers empty boxes to look at, complaining that there simply were not enough GPUs available to meet demand – particularly as the global semiconductor crisis continues to bite.

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