Hong Kong authorities have seized 300 block reward mining graphic processing items (GPUs) in an anti-smuggling operation. The authorities collectively seized the allegedly smuggled items price $3.8 million within the waters off the Hong Kong Worldwide Airport.
Hong Kong Customs confirmed in a press release that the operation began when its officers noticed “a number of suspicious males transferring cartons from a fishing vessel onto a speedboat.” Whereas the lads fled, the officers have been capable of detain the fishing vessel the lads used and seize a big batch of smuggled items, which included high-valued meals, digital merchandise and cosmetics.
As a neighborhood outlet later reported, among the many objects the authorities seized have been 300 Nvidia 30HX cryptomining processors (CMPs). Nvidia not too long ago launched this sequence of block reward mining GPUs in response to the scarcity of its gaming processors available in the market. Block reward miners had continued to gobble up all its GPUs, resulting in annoyed avid gamers.
The 30HX CMPs have been fairly tough to search out, with some retailers revealing that they’ve to this point solely been produced by third-party Taiwanese producers Palit and Gigabyte. The GPU can also be somewhat inefficient, particularly in comparison with a few of the different block reward mining GPUs in its worth vary. Nonetheless, they’ve nonetheless been in excessive demand as most block reward miners are at present making enormous earnings. As CoinGeek reported not too long ago, 500.com additionally bought ASIC miners courting again to 2016. These miners, whereas inefficient, are nonetheless worthwhile within the present market the place most digital currencies are unjustifiably extremely priced.
The seizure in Hong Kong exhibits the continued hovering demand for block reward mining tools, particularly in China. The Asian financial large accounts for a majority of block reward miners globally. It has been among the many worst hit by a global chip shortage that has led to a dwindling provide in block reward mining ASIC rigs.
Along with the ASIC scarcity, the Chinese language miners must take care of a authorities clampdown on digital currencies. This denies them the possibility to trade the digital currencies they mint into the Chinese language renminbi. Three-quarters of Chinese language miners claimed just a few months again that they’re now struggling to even settle their energy payments.
See additionally: Fairness analyst John Pitts and fintech knowledgeable Len Mazur focus on TAAL, Bitcoin and the transaction processing trade
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